✴️ WAXPUSDT | WAX, Early Is Good (Name Your Altcoin #4 ✅)We continue with a pair that really caught my attention the first time I looked at it, the high potential was unmistakeable but instead of WAXPUSDT it was the WAXPBTC pair, this will be added to the 'Related Ideas' at the bottom.
For WAX, it is early and here early means good.
How can we say early after 5 consecutive weeks of strong bullish action?
Just this week WAXPUSDT moved above EMA21 while EMA50 is still "far away", 100% or a double is needed to reach this target.
Now, when considering the previous trade ideas, such as GALAUSDT I mention the potential still available when compared to other altcoins such as FTM and LTC.
WAX is in the same situation, since the whole market is turning bullish, since everything is growing and set to grow, the ones that are more advanced reveal what the rest of the market is set to experience.
Since we have many pairs well above EMA50, those below it are still "early" in this bullish wave development... It won't be "early" forever.
We already consumed 1 out of 3 precious months.
Oh wait! Another piece of good news.
There can be a retrace after 1-2 months big in size just to see more growth all the way to late April but let's not get ahead of ourselves.
As WAXPUSDT moves above EMA21 it also recovers above the June 2022 support turned resistance now going back to support.
This is a process that took more than 6 months, a pretty long-time in crypto-mindset.
The trading volume on the mid 16-January week, is the highest since December 2021. Thus we can say the highest weekly volume in a year.
One of the easiest giveaway signals to spot.
When you have the strongest volume in years, it means things are about to change.
After following the Tesla crash for a long time, I spotted the reversal thanks to a volume signal. TSLA produced the highest volume in 2 years and yes, like clockwork a reversal happened and since that signal came up the stock has grown over 80%.
We have the falling wedge pattern, the strong RSI, the green candles and overall good news.
WAXPUSDT is another pair that is set to do good.
Name your altcoin #4.
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