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Weekly $WAXP price analysis from #WAXHub #SocialMining community:

As we mentioned in the analysis last week, we expected a correction down to the area outlined for the WAXP/USDT pair is to be a buy signal.
After testing the bears at the $0.066 resistance level, the price returned to the $0.044 support zone, providing buying pressure to start another upward move. The $0.066 resistance level will probably be tested again. If this level is crossed, the next predicted target area is seen at $0.077.

Weekly WAXP price analysis from WAX Hub Social Mining community:

The cryptocurrency downturn has not affected $WAXP negatively as much as it has alternative digital assets. The strength of WAXP became noticeable compared to other assets in past evaluations when market conditions deteriorated. WAXP now resides at its essential support zone following the market correction thus demonstrating a more substantial price drop in the market.
The price retraction creates prospective buying areas for investors who wish to establish long-term holdings. Previous market movements that reached solid support areas have frequently persuaded investors to buy into the market. A stronger upward trend may form if WAXP manages to stabilize its price above the defined accumulation zone.
Through its #WAXHub platform, #DAOLabs strengthens the core function of #SocialMining within decentralized systems which enables users to join blockchain development initiatives. WAXP's overall market navigation struggles will be monitored by observers who watch for the network's expanding use and user base in the @WAX ecosystem.

The price action and market momentum have shown growth since investors stepped in and defended the previously tested support zone.

A powerful price movement occurs from the previous support level as market data demonstrates. Following the recent market retracement buyers emerged to advance prices higher. The ongoing clash at the higher resistance marks an opportunity for price to break through that front resulting in accelerated movement when demand persists.
Participants across the market are monitoring the orange region because its breach has the potential to produce immediate price growth. Investors should look at dips along with market declines as these events may present chances to secure strategic positions. Personnel can position themselves strategically for risk control through the green-marked areas that indicate accumulation regions.
#WAXHub uses #SocialMining effectively during market fluctuations because it depends on both important insights and strategic community actions. Blockchain ecosystems progress through time as decentralized finance trends develop with increased participation from communities. Making investment decisions through market analysis provides traders along with participants in #Web3 space with knowledgeable decisions.

Weekly $WAXP price analysis from #WAXHub #SocialMining community:

The price gained momentum after a rebound from the 0.02765 level, breaking through the 0.03725 resistance point, which then turned into support, and is now trading at higher levels. We observe an approximately 45% increase. From the chart, we can identify that 0.03993 is now the new resistance level. A breakout above this level, followed by a surpassing of 0.04753, will likely accelerate the upward movement.

This analysis does not constitute investment advice. We recommend that you conduct your own research.