$WAXP is currently trading around 0.00862 USDT, down roughly -4.7% in the last 24 hours. After a sharp intraday sell-off, price printed a local low near 0.00853 and is now moving sideways, showing short-term consolidation rather than strength.
On the 1H timeframe, the structure remains bearish. Lower highs are still intact, and the recent bounce looks corrective, not impulsive. Selling pressure previously pushed price down with strong red candles, and current recovery candles lack volume, suggesting weak demand. Unless WAXP reclaims key resistance, downside risk remains active.
Trade Setup (Short-biased)
• Entry Zone: 0.00865 – 0.00875
• Target 1 🎯: 0.00853
• Target 2 🎯: 0.00835
• Target 3 🎯: 0.00810
• Stop Loss: 0.00895
If price breaks and holds above 0.00895 with strong volume, this bearish setup is invalidated and WAXP could attempt a larger recovery. Until then, rallies look like sell opportunities rather than the start of a sustainable uptrend.
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