$WAXP /USDT: Technical Analysis and Trade Insights
Current Price: $0.06926
24h Change: +25.38%, indicating strong bullish momentum
Key Technical Indicators:
Trend: Bullish, with a significant 25.38% price surge in the last 24 hours.
Support Level: $0.0650 (previous low)
Resistance Levels:
1. $0.0720 (immediate resistance)
2. $0.0780 (mid-term resistance)
3. $0.0850 (long-term resistance)
RSI: Near 70, signaling overbought conditions and potential for a pullback.
MACD: Positive crossover, reinforcing bullish momentum.
Volume: Above average, supporting the current upward trend.
Trade Signal:
Momentum: The bullish trend is strong, but the RSI indicates a pullback could occur soon.
Entry Point: Buy near the support level of $0.0650 if the price retraces.
Target Levels:
1. $0.0720 (immediate profit-taking level)
2. $0.0780 (mid-term target)
3. $0.0850 (long-term goal)
Stop-Loss: Below $0.0620 to limit downside risk.
Strategy: Monitor RSI for overbought signals to identify potential exits, and take profits progressively at resistance levels.