WAX (WAXP) Receives a Very Bullish Rating Wednesday: Is it Time to Get on Board?

Wednesday, December 08, 2021 11:47 AM | InvestorsObserver Analysts

WAX (WAXP) gets a very bullish rating from InvestorsObserver Wednesday. The coin is up 48.69% to $0.7282462394 while the broader crypto market is down 0.52%.

WAX has a Very Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on WAX!

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Very Bullish

Over the last five days, WAX has earned a Very Bullish rating on the InvestorsObserver Sentiment Score. The Sentiment Score measures the performance of WAX over the past five days by volume and price movement. The Sentiment Score provides a quick, short-term look at the crypto’s recent performance. This can be useful for both short-term investors looking to ride a rally and longer-term investors trying to buy the dip.

Price Levels

WAX price is currently above resistance. With support set around $0.471009113633816 and resistance at $0.509543784702007, WAX is potentially in a volatile position if the rally burns out. WAX has traded on low volume recently. This means that today's volume is below its average volume over the past seven days. WAX has maintained a low reading on the InvestorsObserver Volatility Rank as it has faced low volatility relative to the crypto market during the past 60 days.

What is a coin?

A coin is a cryptocurrency that exists on its own blockchain. These are typically used for payments. Depending on the cryptocurrency, what those payments are use for may vary from general use in the Digital Money sub-class to a more specific use in some other sub-classes. Due to a lack of data, this crypto may be less suitable for some investors. Click here to unlock the rest of the report on WAX