Market Overview for WAX/Tether (WAXPUSDT)

Summary
• Price consolidated between 0.0074 and 0.00751, with a bullish breakout above 0.00745 in late hours.
• Strong volume expansion confirmed the late-day rally, aligning with rising price momentum.
• RSI near 55 suggests moderate bullish momentum, without overbought conditions.
• A bullish engulfing pattern formed near 0.00745, suggesting potential short-term strength.
• Volatility increased near 0.00752–0.00754, with price lingering near the upper Bollinger Band.

WAX/Tether (WAXPUSDT) opened at 0.00745 on 2025-12-19 12:00 ET, reached a high of 0.00752, a low of 0.00733, and closed at 0.00754 by 12:00 ET on 2025-12-20. Total volume for the 24-hour period was 10,890,891.0, and notional turnover amounted to approximately $79,462.

Structure & Formations

Price found support at 0.0074 and resistance at 0.00752 over the past 24 hours.

. A bullish engulfing pattern formed near 0.00745, indicating a potential short-term reversal from bearish to bullish sentiment. A doji near 0.00746 also suggests indecision before the final upward move.

Moving Averages

On the 5-minute chart, the price closed above both the 20-EMA and 50-EMA, confirming a short-term bullish bias. On the daily chart, the 50- and 100-day moving averages are not yet fully calculable with a single day's data, but the 200-day average likely remains well below the current price, indicating a larger-term divergence.

MACD & RSI

The MACD line turned positive during the final 6 hours, with the signal line lagging behind and the histogram showing growing bullish momentum. RSI reached 55 by the close, indicating moderate bullish momentum without entering overbought territory.

Bollinger Bands

Volatility increased during the final 5 hours, with the upper band near 0.00752. Price traded close to the upper band, suggesting a period of heightened buying pressure and consolidation above key resistance.

Volume & Turnover

Volume spiked sharply in the 5 hours leading up to the close, coinciding with a price rally from 0.00748 to 0.00754. Notional turnover increased by over 150% during the same period, confirming the strength of the move and the absence of divergence.

Fibonacci Retracements

On the 5-minute chart, the 61.8% level of the 0.00733–0.00752 move aligns near 0.00743, where price consolidated before the final push higher. On the daily chart, further confirmation is needed for broader Fibonacci levels due to the limited data window.

The market appears to have established a short-term bullish bias, with key resistance now at 0.00754. If this level holds, traders may look for a test of 0.00757–0.0076. However, a pullback below 0.00745 could reintroduce bearish pressure, so investors should remain cautious and monitor volume for confirmation of the next move.