WAX Price Prediction: Can Bulls Break Through Resistance Levels?

• 1 The price is moving above the 20,50 and 100-day DMA but lagging behind the 200-day EMA.
• 2 The current price of the WAX is around $0.07365 with a decline of 0.42%during the last intraday trading session.
• 3 The pair of WAX/BTC is surfing around 0.000002425 BTC with a drop of 0.21% during the last 24 hours.

The price of wax fluctuates and making it challenging for investors to make decisions. Currently, the bears are dominating and pushing the price downwards, but the bulls are making efforts to bring the price up. The bulls have attempted to raise the price but the bears are also trying to pull it down. The bears dominate the market, but the bulls can still enter the trade.

Currently, the price of WAX is around $0.07365 with a decline of 0.42%during the last intraday trading session and the WAX/BTC pair is trading at approximately 0.000002425 BTC with a drop of 0.21%. The bulls have attempted to raise the price but the bears are also trying to pull it down. The bears dominate the market, but the bulls can still enter the trade and generate investor interest. If the bulls are successful, they may push the price up to the primary resistance of $0.0890 or it might get up to the secondary resistance of $0.1287. However, if the bears continue to dominate, the price may drop up to the primary support of $0.0589 or even it might drop up to the secondary support of $0.0399.

Source: WAX/USD by TradingView

The trading volume of Flow has decreased by 2.68% during intraday trading, indicating an increase in short-selling pressure and an increase in selling. This could be a good opportunity for new investors to enter the market. The volume-to-market cap ratio is 0.0307.

The Technical Analysis of WAX

Source: WAX/USD by TradingView

The technical indicators show that the buying is becoming stronger, and the sellers need to work harder to reach their desired goals. The current RSI is 53.09, which is slightly below the average RSI of 53.75. The price is moving above the 20,50 and 100-day Daily Moving Averages but lagging behind the 200-day Exponential Moving Averages. The MACD and MACD signal have intersected giving a positive crossover.

Conclusion

the current WAX price is around $0.07365 with a decline of 0.42% during the last intraday trading session, and the WAX/BTC pair is trading at approximately 0.000002425 BTC with a drop of 0.21%. While the bears are currently dominating the market, the bulls can still enter the trade. The RSI is being dragged to the overbought zone. The MACD and MACD signal have intersected giving a positive crossover.

Technical Levels

Support Levels: $0.0589 and $0.0399

Resistance Levels: $0.0890 and $0.1287

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Source