WAX Price Analysis: WAXP Price Slumped -2.8% in 24-hours


  • 24-hour trading volume for WAX is hovering at $6,965,946.00.
  • WAXP fall -4.43% in seven days.
  • WAX is presently valued at $0.079
  • WAX price analysis is bearish today.

26 April 2024 : In this article we will walk you through WAX price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for WAX, Is WAXP a good investment? WAX support & resistance levels etc. But before diving deep into the WAXP technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,372,082,169,998. The total trading volume stands at $80,255,570,481. Bitcoin shares 53.42 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $64,384.36 level after an upward movement of 0.12%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -0.06 percent reaching to $3,145.80 during the previous 24 hours.
While publishing this blog, BNB traded at $611.64, following a price change of 0.62% within the same time frame. SOL the native coin of Solana is down by -1.52 and currently trading at $143.90. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

WAX Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of WAX (WAXP)

WAXP Resistance Levels WAXP Support Levels
Resistance Level 1 $0.088 Support Level 1 $0.074
Resistance Level 2 $0.094 Support Level 2 $0.067
Resistance Level 3 $0.10 Support Level 3 $0.060

WAX Performance

The daily chart of WAX shows that the WAXP price has a downward movement with a -2.8% decrease in past 24 hours. The price value of the WAX (WAXP) coin is standing at $0.079 with market capitalization $176,296,111.00 USD. WAXP price changes -4.43% over the week while the trading volume is hovering around $6,965,946.00 USD.

WAX Price Analysis

WAXP price analysis for 26 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the WAX.

Moving Averages Price Indicator
Simple Moving Average (10) 0.082 Sell
Exponential Moving Average (10) 0.082 Sell
Simple Moving Average (20) 0.084 Sell
Exponential Moving Average (20) 0.084 Sell
Simple Moving Average (50) 0.089 Sell
Exponential Moving Average (50) 0.088 Sell

The Relative strength index (RSI) for WAXP Coin is currently hovering at 37 for 14-days average line, which means WAXP is just recovering from a oversold condition. The WAXP/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market. While WAXP’s Williams %R indicator is at -33.287 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. As per the price analysis, the WAXP price may find support at these crucial levels of $0.074, $0.067, moving below these levels might bring the price to $0.060. on the other side, the resistance levels are at $0.088 and $0.094. A bullish breakout from the above levels may lead the price to the $0.10.

Conclusions

WAX is now experiencing a significant bearish trend, this does not necessarily imply that the cryptocurrency is in any type of precarious situation that cannot be rectified. Even if the price is falling steadily, it is anticipated that the two support levels will serve as strong barriers and cause the trend line to rebound back into the positive zone.