Sounds like an application for an Ultrasonic (ie non contact) level measurement probe. Anything other than non contact would be a maintenance nightmare.
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As stated there is not enough information to give you an answer.
I would presume that the wax is in liquid form. I would also presume that it has a coating effect. If this is the case, ultra sonic would have limited use.
Better options would be - Laser; Radar (if the wax is insulating) or Nuclear.
You will have to provise more information to get a more definitive answer.