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- Waves price is trying to adapt to the strong uptrend momentum inside the consolidation phase.
- WAVES crypto is trying to recover above 20, 50, 100 and 200-days Daily Moving Average.
- The pair of WAVES/BTC is at 0.0002372 BTC with an intraday gain of 1.77%.
Waves’ price is aiming to soar higher with upward momentum on the daily price chart. The cryptocurrency has been slowly rising for the previous three trading sessions, and it is currently fighting to maintain the uptrend as bearish try to push it lower. WAVES bulls need to accumulate themselves for the token to sustain its current position above the ascending line over the daily chart. WAVES is aiming to maintain itself above an upward sloping line in order to remain in the recovery phase. The bulls will need to save the day since bears can try to lure the token back. Following a V-Top pattern, bulls attempted to continue the topken’s rise but were unsuccessful, leading to the consolidation phase.
The market value of WAVES increased by 3.24% from the previous day to $5.17. However, trade volume climbed by 5.47% during the intraday trading session. This shows how determined WAVES bulls are to accumulate so that the coin can start to keep up the momentum of its advance. Volume to Market capitalization ratio is 0.4244.
The price of the Waves coin is being influenced by an interesting pattern on the daily chart. During the most recent months’ trading sessions, the token experienced a considerable decline. However, on the daily chart, Waves is attempting to begin its recovery phase above an upward sloping line this time. The token is being pulled under the sloped line by bears, nevertheless, in an effort to cause it to plummet once again towards the lowest points. Waves need a higher volume change to survive; it is now below average.
What do Technical Indicators suggest about WAVES?
The Waves coin price is struggling to remain above the upward-sloping line on the daily price chart. The token must stay in the recovery phase to prevent crossing the daily chart. Technical signs indicate that it will be difficult for the WAVES bulls to maintain above the inclination.
The WAVES coin’s Relative Strength Index shows sideways momentum. The RSI is just below neutrality at 42. On the MACD, the WAVES coin is sliding horizontally. Any crossing beneath the signal line is sought after by the MACD line. WAVES investors should keep an eye on the daily chart for any changes in trend.
Conclusion
Waves’ price is aiming to soar higher with upward momentum on the daily price chart. The cryptocurrency has been slowly rising for the previous three trading sessions, and it is currently fighting to maintain the uptrend as bearish try to push it lower. WAVES bulls need to accumulate themselves for the token to sustain its current position above the ascending line over the daily chart. WAVES is aiming to maintain itself above an upward sloping line in order to remain in the recovery phase. The bulls will need to save the day since bears can try to lure the token back. The token is being pulled under the sloped line by bears, nevertheless, in an effort to cause it to plummet once again towards the lowest points. Waves need a higher volume change to survive; it is now below average. Technical signs indicate that it will be difficult for the WAVES bulls to maintain above the inclination. Any crossing beneath the signal line is sought after by the MACD line. WAVES investors should keep an eye on the daily chart for any changes in trend.
Technical Levels
Support Level: $4.50 and $4.00
Resistance Level: $5.80 and $6.50
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
