- The WAXE token price has increased by 11.74% during the intraday trading session.
- The 24-hour trading volume witnessed a massive upsurge of 1280.73%.
- Technical indicators summary suggested a strong positive signal in the current phase.
WAXE is a leading gaming and NFT ecosystem primarily built to handle the demands of blockchain gamers and NFT collectors. It claims to be reliable and efficient by providing services like playing, buying, selling, and trading on its ultra-fast, secure, and carbon-neutral platform. The platform also offers scalability by handling over 23 million daily transactions for over 30k decentralized applications (DApps) and 15 million users.
WAXE Has Witnessed 170.17% Growth in the Last Six Months
Crypto investors observed a positive rally from the $36.14 demand level in September 2023. The price reflected bullish sentiments for three consecutive months except November 2023. WAXE price experienced over 100% bullish rally during that period.
However, the crypto price made a bullish correction in January 2024, Declining 21.99% to the $51.94 decisional point of interest (POI). Afterward, the community witnessed a massive upsurge in WAXE token price in February 2024.
The ecosystem reported over 74% return in a single month. It changed the market sentiments 360 degrees towards a bullish bias. In March 2024, the price got a hard bullish rejection from the $71.86 bullish POI, reflecting investors’ sentiments.
Supply and Top 3 Holding Wallets of the WAXE Token
The fully diluted valuation of the WAXE ecosystem is assumed to be $408 million. It has a maximum supply of 3.70 million WAXE, which can make this cryptocurrency a deflationary asset in the future. However, the current circulation supply of the tokens is still unknown.
24-hour trading volume is $178,891, ranked 2233rd out of all the 9,263 active cryptocurrencies. It has an all-time high price of $5,744.46 and was made two years ago. The current price has 287.81% more value than its all-time low.
Technical Analysis of the WAXE Price
The WAXE crypto price rebounded the 50-day and the 200-day exponential moving averages on February 20, 2024. It indicates a strong sense of bullish sentiments in the price. The 50-day EMA is currently a dynamic support for the token price.
On January 23, 2024, the token price rallied and reached the $101.54 resistance. It gained over 95% value returns during that rally and made a bullish correction on the $71.86 POI. Recently, it has given a breakout of $101.54.
The current price is making an impulsive bullish move, surging toward the $128.07 resistance. If the price closes above that level, it can possibly attain the $156.64 mark.
The relative strength index (RSI) reflected a weak internal bearish divergence in the momentum. That indicates a slightly positive signal in the favor of bulls. The RSI is moving at 69.96 above the signal line.
Summary
The WAXE token price has been performing in strong bullish sentiments since October 2023. The token returned over 170% value back to its investors in the last six months. Its price reflects an impulsive bullish move, surging toward the $128.07 resistance. If the price closes above that level, it can possibly attain the $156.64 mark.
Technical Levels
- Resistance Levels: $128.07 and $156.64
- Support Levels: $101.54 and $71.86
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.