Lorenzo Stroe
Independent Analyst
- After a massive bull run to $0.088, WAX has started consolidating and has dropped to $0.057.
- WAX can still defend the daily 26-EMA but has lost the 12-EMA.
The WAX bull run is paused as bulls couldn’t handle the selling pressure around $0.08 and the price dropped to a low of $0.057, the current price at the time of writing. Bulls have lost the daily 12-EMA at $0.0641 and they are looking to defend the daily 26-EMA at $0.0547.
WAX/USD daily chart
 (1)-637274965468805830.png)
The daily chart is not looking too great for WAX as most of the gains are now lost in a violent consolidating move. During the past three days, bears have taken over and managed to drop WAX by more than 35%.
The daily 26-EMA at $0.0547 will serve as the next support level. The daily RSI is extremely oversold and could help the bulls in the short-term but the bearish momentum is strong.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Is Uniswap the best-performing DEX exchange?
Uniswap daily active users are the highest than other DEX exchanges. Token Terminal data show UNI has collected $399 million in fees in the past three months. UNI’s 180-day trading volume is the highest in the DEX sector.
These crypto tokens have the best chance of recovery: XRP, Solana, Ethereum, Bitcoin, Chainlink
Crypto intelligence tracker Santiment tracks the narrative among traders to identify which assets have the best chance of recovery. Typically, the assets that crypto traders have the most negative sentiment towards, have the best chance of recovery.
BTC vulnerable despite surge in stablecoin market capitalization
Bitcoin price closed below the $62,000 support on Wednesday, showing signs of weakness. CryptoQuant report shows how rising stablecoin market capitalization could be a positive sign for Bitcoin and other cryptocurrencies.
Crypto Today: Bitcoin, Ethereum, XRP stay put as market faces potential supply overhang from Bitfinex and US
Bitcoin price stayed above $62,000 but could face supply overhang from potential transfers of Silk Road and Bitfinex funds. Ethereum and XRP continued consolidating near key price levels. Popular trader Peter Brandt predicts $135,000 Bitcoin price between August/September 2025.
Bitcoin: Is BTC sell-off over?
Bitcoin price declined over 6% this week until Friday as the escalation of the conflict between Iran and Israel added fuel to this sell-off. The decline was also supported by falling institutional demand for ETFs. BTC bulls seem to be holding strong at a critical support level.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.