In this WAX technical analysis, we will examine the current price action, trading volume, key levels and indicators for WAXP-USDT. Here are three sentences about WAX (WAXP) cryptocurrency: WAX, or World Asset eXchange, is a blockchain-based platform that enables the creation, trading, and ownership of unique digital assets. These assets can range from collectibles and gaming items to virtual real estate and event tickets. By leveraging smart contracts and decentralized storage, WAX provides a secure and transparent environment for users to buy, sell, and trade their digital assets.
WAX Price Overview:
As of October 02, 2023, WAX is trading at approximately 0.0429 USDT. Let’s dive into the detailed price action for WAXP-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.0446 |
| High (H) | 0.0453 |
| Low (L) | 0.0427 |
| Close (C) | 0.0429 |
| Volume (C) | 14,955,173.00 |
- Open (O): The opening price for today’s trading session was approximately 0.0446 USDT.
- High (H): WAX reached a daily high of around 0.0453 USDT.
- Low (L): The daily low for WAXP-USDT was approximately 0.0427 USDT.
- Close (C): At the time of analysis, WAX is trading near its daily close of 0.0429 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -4.03% |
| 3D Change (%) | 2.14% |
| 7D Change (%) | 4.63% |
| 30D Change (%) | 11.14% |
| 90D Change (%) | -15.22% |
| YTD Change (%) | 2.88% |
Over the past three days, WAXPUSDT has risen by approximately 2.14%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 4.63%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with WAXPUSDT maintaining an upward trend of approximately 11.14%, despite intermittent fluctuations. Examining the last 90 days, WAXPUSDT has witnessed substantial decrease of approximately -15.22%, reflecting strong long-term confidence. Year-to-date, WAXPUSDT has steadily appreciated by around 2.88%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
WAX Live Chart:
You can access a live price chart for WAXP-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.47664.
- Momentum score is 0.1114.
WAXP USDT Technical Analysis
WAX Trading Volume:
The trading volume for WAX (WAXP) over the past 24 hours has been insignificant, with approximately 14,955,173.00 USDT traded against WAXP. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): WAXP is currently trading above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): WAX is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for WAXP-USDT is currently in the neutral zone, around 50.08539. This suggests that WAX is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
WAX (WAXP-USDT) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
