They’re calling this oversold, but pressure keeps building on WAX.
$WAXP /USDT - SHORT
Trade Plan:
🎯 Entry: 0.06120 – 0.06280
🛑 SL: 0.06610
✅ TP1: 0.05840
✅ TP2: 0.05510
✅ TP3: 0.05170
Why this setup?
Price broke key support and is now retesting it as resistance, confirming bearish continuation. Structure shows strong selling pressure with no clear reversal signs.
RSI attempting to recover but lacking momentum, indicating sellers still in control of the trend.
Debate:
Will this breakdown extend toward TP1 at 0.05840, or can price reclaim the lost level and invalidate the setup?
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WAXPUSDT
Perp
0.006211
-1.19%