$WAXP is currently trading around 0.00867, showing a -3.13% decline over the last 24 hours. After a failed upside push toward the 0.00895–0.00900 area, price faced strong rejection and printed a sharp move down to the 0.00860 support zone.
On the 1H timeframe, multiple bearish candles and long upper wicks indicate sellers are still in control. The recent bounce from 0.00860 looks corrective rather than impulsive, suggesting downside risk remains if support fails.
Market Structure Insight
Trend: Short-term bearish / weak recovery
Key Resistance: 0.00880 – 0.00895
Key Support: 0.00860 (major), then 0.00840
A clear breakdown below 0.00860 would likely trigger a deeper sell-off.
Trade Setup (Short-Biased)
Entry Zone:
0.00872 – 0.00885
Target 1:
0.00860
Target 2:
0.00845
Target 3:
0.00820
Stop Loss:
0.00905
Alternative Scenario
If price reclaims and holds above 0.00895 with strong volume, the bearish setup becomes invalid. In that case, $WAXP could attempt a move toward 0.00930–0.00960, but this requires a decisive breakout and follow-through.
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