Market Overview for WAX/Tether (WAXPUSDT): December 12, 2025

Summary
• Price tested key resistance at $0.00885–0.0089, forming bearish reversal patterns.
• MACD turned negative, RSI near 50, suggesting momentum is shifting to the downside.
• Volatility expanded mid-day, with volume surging above average during the sell-off.

At 12:00 ET–1 on December 11, WAX/Tether (WAXPUSDT) opened at $0.00874 and reached a high of $0.00898 before closing at $0.00885 at 12:00 ET on December 12. The 24-hour low was $0.00846. Total volume traded was 13,185,004 WAX, with notional turnover at $114,256.

Structure & Key Levels

Price encountered resistance at $0.00885–0.0089, with bearish engulfing patterns forming on the 5-minute chart after failing to break through. A strong support level appears near $0.00874, marked by consolidation and a bullish engulfing pattern early in the session. Fibonacci retracement levels from the key swing high of $0.00898 to the low of $0.00846 suggest 61.8% support at $0.00868 may offer further downside protection.

Volatility and Momentum

Bollinger Bands expanded significantly during the sharp sell-off in the early afternoon, with prices falling to the lower band before stabilizing. The 5-minute RSI dipped below 50 and showed bearish divergence, while the MACD crossed below zero, indicating a shift in momentum. Volume surged during the sell-off, confirming the bearish move.

Volume and Turnover Analysis

Volume spiked during the mid-day sell-off, particularly after the 15:30 ET candle, when WAXPUSDT fell from $0.00879 to $0.0087. Notional turnover also increased sharply during this period, aligning with the price decline. A divergence between price and turnover appears late in the session as volume cooled despite continued sideways trading.

WAX/Tether appears to be consolidating below key resistance with bearish momentum taking hold. A retest of $0.00874 could trigger further downside toward $0.00868, but a rebound above $0.00885 may reverse this trend. Investors should watch for confirmation of a short-term bottom or a continuation of the bearish bias over the next 24 hours.