WAXP is currently trading around the $0.0057 area after experiencing strong selling pressure over the past few weeks. The asset remains in a clear downtrend on the 4H timeframe, trading below its major moving averages.
However, the recent reaction from the $0.0055 support zone suggests buyers are beginning to defend this level.
📊 Key Levels to Watch:
• Support: $0.0055
• Resistance: $0.0060 - $0.0061
• Bullish Target: $0.0065 - $0.0070
A successful break above $0.0061 could trigger a short-term recovery rally. On the other hand, losing the $0.0055 support may open the door for a move toward lower levels.
For now, traders should closely monitor volume and price action around current support. The next few sessions could determine whether WAXP is forming a bottom or simply preparing for another leg down.
What's your view on WAXP? Accumulation zone or further downside?