Market Overview for WAX/Tether (WAXPUSDT): Volatile Consolidation Amid Downtrend Pressure

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Friday, Jan 16, 2026 10:38 pm ET1min read
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Aime RobotAime Summary

- WAXPUSDT tested $0.00854 support before rebounding, but bearish momentum persisted via MACD divergence and declining RSI.

- Bollinger Bands widened mid-session with $1M+ volume surge at 05:00–06:00 ET, confirming bearish pressure below $0.00862.

- Oversold RSI (below 40) failed to close above 50, while Fibonacci levels at $0.00855–$0.00858 showed indecisive sideways action.

- Despite consolidation near key support, lack of reversal patterns and bearish SMA alignment suggest continued downtrend risk.

Summary
• Price tested key support at $0.00854 before rebounding into consolidation.
• Bearish momentum evident with MACD divergence and declining RSI.
• Bollinger Bands widened mid-session, suggesting rising volatility.
• Volume surged during the 05:00–06:00 ET window, confirming bearish pressure.
• No strong reversal patterns emerged, signaling continued indecision.

WAX/Tether (WAXPUSDT) opened at $0.00868 on 12:00 ET − 1, peaked at $0.00871, touched a low of $0.00854, and closed at $0.00865 by 12:00 ET. The 24-hour volume reached 10.3 million, with a notional turnover of $89,423.

Structure & Formations


Price encountered key resistance at $0.00870, failing to break above despite early attempts. A bearish breakout below $0.00862 confirmed a short-term bearish bias. The $0.00854–$0.00857 range emerged as critical support, with a failed test at $0.00853 suggesting buyers are stepping in to defend this level.

Moving Averages


On the 5-minute chart, price closed below both 20 and 50-period SMAs, reinforcing a downtrend. Daily 50/100/200 SMAs were aligned bearishly, suggesting further consolidation is likely before a potential reversal.

MACD & RSI


MACD showed bearish divergence in the morning, confirming weakening bullish momentum. RSI dipped below 40, pointing to oversold territory late in the session, but failed to close above 50, suggesting a lack of conviction in a rebound.

Bollinger Bands


Volatility expanded as bands widened during the early to mid-ET hours, with price trading near the lower band after 05:00 ET. A contraction in band width toward the close suggests potential for a directional breakout in the next 24 hours.

Volume & Turnover


Volume surged past $1 million between 05:00 and 06:00 ET as price broke below $0.00862, confirming the bearish breakout. Turnover remained elevated during the session’s later hours as buyers defended the $0.00854–$0.00857 range.

Fibonacci Retracements


A 5-minute retracement of the morning’s pullback identified a key level at $0.00858 (38.2%) and $0.00855 (61.8%), both of which were tested but not decisively broken, suggesting continued sideways action is probable.

While the near-term outlook appears bearish, with price consolidating near key support, the oversold RSI and elevated volume at the bottom may signal a potential rebound. However, without a clear reversal pattern or break above $0.00867, the risk remains that the downtrend could reassert itself. Investors should watch for volatility expansion and potential breakouts in the next 24 hours.