Breakout and Potential of WAXP/USDT

WAX (WAXP) is a dedicated blockchain launched in 2017, tailored for e-commerce transactions to make them faster, simpler, and safer for all parties involved. It operates on a Delegated Proof of Stake (DPoS) consensus mechanism and is fully compatible with EOS. WAX has been designed with specific features and incentive mechanisms to optimize its utility for e-commerce. This includes a suite of blockchain-based tools upon which decentralized application (DApp) marketplaces and non-fungible tokens (NFTs) can be developed. Among these tools are the WAX Cloud Wallet, SSO, OAUTH, native RNG services, and a developer portal. The WAX blockchain architecture facilitates 500-millisecond block times and enables transactions without fees for its users, while also rewarding voting participation for block producers and proposal improvements​ (CoinMarketCap)​.

WAX plays a significant role in the Web3 ecosystem by emphasizing e-commerce and digital and physical item trade facilitation. It has pioneered creating a space where anyone can trade items instantly and securely, through DApps, NFT marketplaces, or traditional e-commerce operations. This places WAX at the forefront of integrating a broad array of users and developers into a decentralized digital commerce ecosystem, making a substantial contribution to the Web3 world​ (CoinMarketCap)​.

In terms of recent developments, WAX has entered into a strategic partnership with Amazon Web Services (AWS) to make crypto game deployment simpler. This collaboration aims to empower developers by providing resources that ease the implementation of games on the blockchain, potentially leading to significant innovations in the crypto gaming and NFT spaces​ (CoinGecko)​.

Incorporating this information into your analysis underlines WAXP's significance not only through its technical attributes and utility in e-commerce and Web3 but also through its recent strategic moves that could further boost its market relevance and adoption.

• What is next?
  
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Looking at the WAXP currency, W-A-X-P, compared to the USDT pair, I see that it has filled the liquidity gap that was missing after the breakout from the descending wedge and even overperformed the pattern. There was institutional buying that pushed it above the manipulation trends. It also reached a yearly high at 0.12347. Many traders got in there with leverage. A control point was formed at 0.08576, with a lot of liquidity accumulation in that area, which is very close to the weekly low, right? What happens is that this point is also a reversal point here for a pump. So, if it's going to rise, because it's aligned with the trend and with important market zones, by the market maker. The next reversal point would be at 0.07490 and the following at 0.05769 for an upward movement. However, now would be a good time for it to react and go after that liquidity left by the buyers at the top, averaging down, and it's between 0.10213 and 0.10733. So, it would be almost a 30% appreciation from current levels. Maintain a control point as your base to decide whether to stop out the operation or not. Even if you take several short stops, it's much more advantageous to do it this way, which is above 0.08576, your stop would be below this level. Below this level, you're going to sell, and you should always do this because even if it takes time, even if the market creates a small range there between that level, it will give you your gold medal, right? So, pay attention to these levels, right? Because at this level is also confluent the Liquidity Zone, LZ, it's above the FirePrice as well, at 0.08749, exceeding there. Let's see there again a test near at least the week's high. And who knows, even surpassing the year's high. Everything depends on the correlation. You can see that the correlation is not 100% with Bitcoin. Now it has lost a bit more of this correlation, being 72.9% over the last 30 candles. As it's a 4-hour chart, it's important to note that. But it's a high correlation. So, Bitcoin needs to again surpass its market cap, regain that lost support, above two trillion, so that we can see new highs in this asset. Everything is also specified more detailed on the chart. Anyone interested can check out my analysis that I made.