Market Overview for WAX/Tether (WAXPUSDT) – 2025-12-08

Generated by AI AgentTradeCipherReviewed byShunan Liu
Monday, Dec 8, 2025 3:34 am ET1min read
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- WAXPUSDT rose to $0.00897 on 2025-12-08, forming a bullish engulfing pattern near $0.00894 after breaking above $0.00895 resistance.

- Volume spiked at key levels ($0.00895–$0.00897) and RSI reached 55–60, indicating moderate upward momentum without overbought conditions.

- Price volatility expanded midday above Bollinger Band midline, with consolidation near psychological $0.00900 level suggesting potential short-term range-bound trading.

Summary
• Price rose from $0.00874 to $0.00897 with a pullback near close.
• Volume surged at key resistance levels, suggesting potential bullish activity.
• RSI shows moderate momentum without overbought conditions.
• Volatility expanded midday, with a sharp move above Bollinger Band midline.
• A bullish engulfing pattern formed near $0.00894, hinting at short-term strength.

WAX/Tether (WAXPUSDT) opened at $0.00874 on 2025-12-07 12:00 ET, surged to a high of $0.00897, and closed at $0.00894 as of 2025-12-08 12:00 ET. Total volume over the 24-hour period reached 10.5 million contracts, with notional turnover of ~$94,300. Price action showed a volatile upward move midday, followed by consolidation toward the session high.

Structure & Formations


Price broke above a prior resistance level of $0.00895 and formed a bullish engulfing pattern at $0.00894. A cluster of bearish volume at $0.00882–$0.00888 acted as support earlier in the session.
The 5-minute chart showed a key swing high at $0.00897, with a 61.8% Fibonacci retracement level aligning near $0.00890.

Moving Averages


On the 5-minute chart, price closed above the 20-EMA but dipped below the 50-EMA, suggesting short-term uncertainty. The 50-EMA on the daily chart held steady near $0.00884, while the 200-EMA remained below the current price.

Momentum & Volatility


The RSI rose into the 55–60 range by the close, indicating moderate upward momentum without reaching overbought territory. Bollinger Bands expanded midday as volatility spiked, with price briefly crossing above the upper band. A contraction phase followed, signaling potential range-bound consolidation.

Volume & Turnover


Volume spiked at key levels: $0.00895–$0.00897 and $0.00882–$0.00885. The largest 5-minute bar (1.24 million contracts) occurred at $0.00882, coinciding with a pullback. Turnover aligned with volume, showing no divergence with price action, suggesting the move was backed by genuine demand.

Looking ahead, WAXPUSDT may test the $0.00897–$0.00900 range for potential follow-through. A retest of the $0.00888–$0.00890 area could provide confirmation of bullish momentum or trigger a pullback. Investors should watch for volume confirmation at key levels and keep in mind the risk of short-term volatility as the pair consolidates near a psychological round number.