$WAXP Market Analysis: Consolidation Near Resistance
The $WAXP chart is showing some interesting volatility as we kick off the year. After a sharp local peak at 0.008349, the price underwent a correction but is currently attempting to find a floor and push back up.
Key Technical Observations:
Current Price: 0.008217 (up +0.75% locally).
Immediate Resistance: The recent wick high at 0.008349 remains the primary hurdle for bulls. A clean break above this could signal a move toward the 0.0085 level.
Support Zone: The 0.008128 -0.008139
area has acted as a strong "buy the dip" zone today, preventing further downside.
Momentum: The 15m candles show a series
of higher lows after the initial drop, suggesting that buyers are stepping in to defend the 0.0082 range.
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