Market Overview for WAX/Tether (WAXPUSDT): 24-Hour Technical Summary

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Wednesday, Dec 31, 2025 10:29 pm ET2min read
WAXP
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- WAXPUSDT dropped to 0.00751 after consolidating between 0.00772-0.00778, forming a bearish engulfing pattern at 0.00761-0.00754.

- RSI and MACD indicated weakening momentum, while volatility surged to $1.86M during 16:45-17:00 ET as volume spiked.

- Fibonacci levels at 0.00766 and 0.00763 failed to hold, confirming bearish bias with key support now at 0.00753-0.00757.

- Traders should monitor consolidation or retests of these levels, as the move could signal a temporary correction or deeper decline.

Summary
• Price action showed consolidation between 0.00772 and 0.00778 with key support at 0.00768.
• RSI and MACD suggested weakening momentum with no overbought or oversold signals.
• Volatility increased during the 16:45–17:00 ET timeframe as volume spiked to $1,866,213.

WAX/Tether (WAXPUSDT) opened at 0.00778 on 2025-12-30 12:00 ET, reached a high of 0.0078, a low of 0.00751, and closed at 0.00754 by 12:00 ET on 2025-12-31. Total volume amounted to 17,996,939 units, with a notional turnover of $14,193,430 over 24 hours.

Structure & Formations


Price action displayed a tight consolidation pattern between 0.00772 and 0.00778 for most of the day before a sharp decline to 0.00751 in the late afternoon. A bearish engulfing pattern formed at 0.00761–0.00754 around 16:45–17:00 ET, indicating a potential reversal of short-term bullish momentum. 0.00768 acted as a key support level, with price bouncing off it multiple times.

Moving Averages


On the 5-minute chart, price spent much of the session below the 20- and 50-period moving averages, reflecting a weakening trend. On the daily chart, the 50-period MA at ~0.00774 and 200-period MA at ~0.00776 suggested a neutral to slightly bearish bias for longer-term participants.

MACD & RSI


The MACD turned negative during the final 4 hours of the session, with the line crossing below the signal line to confirm bearish momentum. The RSI hovered around 40–50 for most of the day, suggesting neutral conditions, though a drop below 40 in the late hours hinted at increased bearish pressure. No overbought or oversold conditions were observed during the 24-hour window.

Bollinger Bands


Volatility expanded significantly in the 16:45–17:00 ET period, with price moving from near the upper band to the lower band. This sharp contraction suggested a high-probability price reversal zone, which was confirmed with the bearish breakout. Prior to that, Bollinger Bands remained relatively narrow, indicating a period of consolidation.

Volume & Turnover


Volume remained moderate until the final hours, when it surged to over 2.46 million units (at 16:45–17:00 ET), coinciding with the sharp decline to 0.00751. Notional turnover followed a similar pattern, with the largest spike reaching $1.86 million in that same 15-minute window. This volume surge confirmed the bearish price move rather than contradicting it.

Fibonacci Retracements


Applying Fibonacci levels to the 0.00778–0.00751 move, the 38.2% retracement level (0.00766) was tested twice during the session. The 61.8% level (0.00763) was also a key support that held during the early part of the decline but eventually failed, suggesting increasing bearish conviction in the final hours.

Conclusion


The sharp price drop in the late hours appears to mark a short-term bearish shift, with support now likely forming around 0.00753–0.00757. However, given the volatility and large volume observed, traders should remain cautious as the market may consolidate or test these levels again. The next 24 hours will be key for identifying whether this move is a temporary correction or the start of a deeper decline.