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- 1 The Waves crypto price is holding the bullish wave and aiming to cross the $5 mark.
- 2 The Waves crypto signifies a decline in the volume, resulting in consolidation.
The Waves price signifies an uptrend and has retested the $5 mark, replicating the bull accumulation. This week, bulls failed to stretch the up move, and multiple doji candlesticks were formed, which indicates that momentum is losing now. However, the trend is still intact; if the coin succeeds in crossing the $5 mark, a fresh bull rally can be anticipated toward the upside of $7 soon.
At press time, the Waves crypto (WAVES) price was trading at $4.16 with an intraday drop of 4.19%, indicating the uptrend on the charts. It has a monthly return ratio of 85.80% and 94.19% on a yearly basis. The pair of WAVES/BTC is at 0.0000608 BTC, and the market cap is $480.83 Million. Analysts are bullish and suggest the WAVES coin price may regain strength and skyrocket above the $5 mark soon.
WAVES Crypto Decisively Holding Gains; Is an Uptrend Ahead?
The above-shown data shows that the Waves coin (WAVES) price trades above the key moving averages and is holding the gains decisively amidst the correction in the crypto market in recent sessions. Since the start of this month, the WAVES coin price has kept increasing and has given a notable surge of 60%. This week, the trading volume noted a decline of over 120% and slipped to $203.23 Million, which led to a halt in buying momentum.
Price Volatility and Sentiment Keep Increasing; Is Further Uptrend Possible?
Per the Santiment data, the Waves price witnessed a remarkable up move and is trading in the bullish region. Furthermore, the price volatility takes an elevation and a massive spike of over 280% to 0.134, witnessing large blocks of investors paying attention to the coin. Additionally, the total weighted sentiment replicates a positive move, and a surge of over 360% was noted.
Social Dominance and Twitter Activity Overview
The data indicates a notable surge in social dominance for the past weeks and reveals positive reports and discussions on the media platforms. The social dominance data noted a rise of over 20% to 0.162% last week. The activity among Twitter followers also noted a surge, and the value rose to 143.
Development Activity and Relative Strength Index Remain Neutral
This week, the Waves crypto price is hovering and is decisively holding gains in the bullish trajectory. The data shows the development activity has noted a significant decline, resulting in price consolidation. The Relative Strength Index (RSI) curve stayed in the overbought zone and signifies a bullish trend.
The Total supply of the Waves crypto is 114.07 Million, and the volume-to-market cap ratio is 0.374.
Summary
The Waves coin (WAVES) price trades near the supply zone of $5 and decisively holds gains in the bullish trajectory. Moreover, the trend favors the bulls, and buyers will soon skyrocket the coin price, which may soon reach $7.
Technical Levels
Support Levels: $4 and $3.70
Resistance Levels: $4.40 and $5
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
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.
