Technical Analysis of $WAXP
/USDT:
Current Price: $0.04627 (+12.17%)
24h Range: $0.04067 - $0.04801
Short-term Trend: Bullish, with momentum showing upward movement.
Key Indicators:
RSI (Relative Strength Index): 65 (Approaching overbought; watch for any pullbacks)
EMA (Exponential Moving Average): Price is above the 50-period EMA, signaling a strong bullish trend.
Volume: Increased trading volume indicates strong buying pressure.
Trade Signal:
Entry: Buy near $0.04600 - $0.04650 (current price)
Stop-Loss: Set at $0.04300 (just below key support)
Target Levels:
Target 1: $0.04800 (previous 24h high)
Target 2: $0.05000 (psychological resistance)
Target 3: $0.05200 (next resistance zone)
Trade Momentum: Strong bullish momentum with upward trend dominance. Potential to rise further unless a significant pullback occurs. It's recommended to monitor RSI for possible overbought signals and adjust stop loss to lock profits when closer to target levels.