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

Generated by AI AgentAinvest Crypto Technical RadarReviewed byDavid Feng
Monday, Jan 5, 2026 10:30 pm ET1min read
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Aime RobotAime Summary

- WAXPUSDT formed a bullish engulfing pattern near 0.00825, with 0.0083 as key resistance.

- Volume surged 4 hours before close, confirming strength as RSI hit overbought levels near 0.00833.

- Price breached Bollinger Band +1σ during 02:00-04:00 ET, maintaining uptrend within volatility channels.

- 61.8% Fibonacci retracement at 0.00828 and 50% level at 0.00824 acted as critical support zones.

- MACD remained positive while traders watch for a break above 0.00835 to confirm stronger bullish momentum.

Summary
• Price formed a bullish engulfing pattern near 0.00825, with 0.0083 acting as a key resistance.
• Volume increased during the final 4 hours, confirming a push higher.
• RSI showed a mild overbought condition by 0.00833, indicating possible short-term consolidation.
• Volatility expanded during the 02:00–04:00 ET session, pushing prices beyond Bollinger Band +1σ.
• Fibonacci retracement levels at 0.00828 and 0.00832 acted as key support and resistance in the final 5 hours.

At 12:00 ET–1, WAXPUSDT opened at 0.0083, reached a high of 0.00835, a low of 0.00815, and closed at 0.00831. Total volume was 21,227,403 and turnover was approximately 174,904.

Structure & Formations


Price action showed a bullish reversal pattern near 0.00825 as buyers pushed WAX/Tether back above 0.0083. Key support levels appeared around 0.0082 and 0.00819, while resistance at 0.0083 and 0.00833 showed significant hesitation during the final 5-hour session.

Moving Averages and Momentum


Short-term momentum accelerated as price moved above the 20- and 50-period moving averages on the 5-minute chart. RSI pushed into overbought territory near 0.00833, suggesting potential for a pullback or consolidation before the next move. MACD remained positive, supporting continued upward bias.

Volatility and Bollinger Bands


Volatility increased significantly between 02:00 and 04:00 ET, with WAX/Tether breaching the upper Bollinger Band. The widening bands reflected increased uncertainty, but the price remained within the channel, suggesting that the uptrend remains intact for now.

Volume and Turnover


Volume surged during the final 4 hours of the 24-hour period, especially around 05:00–09:00 ET. Notional turnover aligned with the price action, confirming the strength of the rally. No major divergence was observed between volume and price, suggesting strong conviction in the current trend.

Fibonacci Retracements

Recent 5-minute swings showed a key 61.8% retracement level at 0.00828, which coincided with a strong buy zone. On the daily chart, the 50% retracement at 0.00824 also acted as a key support in the overnight session.

WAX/Tether appears to be consolidating near key resistance as buyers push the price above 0.0083. Traders may watch for a break above 0.00835 for confirmation of a stronger bullish momentum. As always, monitor for divergences in volume and RSI over the next 24 hours, as these could signal a reversal or continuation.