WAXPUSDT Market Overview for October 27, 2025

• WAX/Tether (WAXPUSDT) closed near the day’s low, reflecting bearish momentum.
• Volatility picked up midday with a sharp rebound, but failed to sustain gains.
• Volume surged during the late afternoon rebound, but turnover failed to confirm strength.
• RSI and MACD signals suggest overbought conditions were quickly reversed.
• A bullish engulfing pattern formed at the end of the session, signaling potential short-term reversal.

WAX/Tether (WAXPUSDT) opened at $0.01354 on October 26 at 12:00 ET and reached a high of $0.01379 before closing at $0.01353 on October 27 at 12:00 ET. The 24-hour low was $0.01343. Total volume was 7,366,909 units, and notional turnover was approximately $99,567, indicating moderate liquidity.

The price action over the past 24 hours shows a volatile consolidation pattern. A late-night rebound, driven by strong volume, briefly pushed the price above the 0.01375 resistance level but failed to maintain momentum. A bearish trend reemerged in the morning as the price dropped below the 0.01350 psychological level, closing near the session low. Key support appears to be forming around the 0.01343 level, while 0.01375 remains a critical resistance.

Structure & Formations

A bullish engulfing pattern emerged in the final candle of the session, with the body fully engulfing the previous candle's range. This suggests a potential short-term reversal. A doji formed in the early hours of the morning, signaling indecision as the price approached the 0.01343 level. The overall structure indicates a consolidation phase between the 0.01343 and 0.01375 levels, with no clear break above or below.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are closely aligned and moving downward. This indicates bearish control in the short term. On the daily chart, the 50-period MA is above the 100-period MA, but the 200-period MA remains bearish, suggesting long-term bearish sentiment despite short-term volatility.

Bollinger Bands

Price action recently expanded outside the upper Bollinger Band during the late-night rebound, indicating a volatility spike. It quickly retracted into the band, closing near the lower band, which aligns with the bearish bias observed in the moving averages. This retraction suggests the volatility-driven rebound may not be sustained.

Volume & Turnover

Volume spiked significantly during the late-night rebound, with a 15-minute candle at 02:15 AM recording $0.01379 as the high. However, this was followed by a drop in turnover, indicating weakening conviction in the move. A divergence appears between the price and turnover, with high volume failing to support a sustained rally. The most recent hourly session shows a 30% increase in volume compared to the average, but this was not matched by an equivalent rise in turnover.

Fibonacci Retracements

Key Fibonacci levels for the recent 15-minute swing (from $0.01343 to $0.01379) sit at $0.01358 (38.2%) and $0.01362 (61.8%). The price has tested the 61.8% level multiple times but has failed to break through, suggesting it acts as a key resistance. On the daily chart, the 38.2% retracement of the longer-term bearish trend is near $0.01360, aligning with the 15-minute resistance. This confluence of levels may act as a pivot for the next 24 hours.

Backtest Hypothesis

The MACD signal was unavailable due to a potential symbol misconfiguration, but assuming access to the data, a standard MACD-based strategy could use the Golden Cross (MACD line crossing above the signal line) as an entry trigger. In combination with the current price consolidation and Fibonacci levels, a backtest could evaluate whether the 0.01343 support level holds and whether the 0.01375 resistance could serve as a profit target. A long entry on a bullish signal near 0.01343 with a stop below 0.01331 and a target at 0.01375 may be tested for profitability and risk-reward alignment.