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- 1 At press time, the Waves crypto was trading close to $3.88, reporting an intraday loss of nearly 0.81%.
- 2 The Waves price traced 20-day EMA and bounced back higher, highlighting buyers’ presence at the lower levels.
The Waves crypto trades sideways above the exponential moving average of 20 days. The last couple of sessions have noticed a fight between the bulls and bears with each trying to take control of the trend in the short term.
The short term as well as long term trend outlook was bullish and the price maintained a higher low and higher high structure pattern for the last two months. The WAVES price displayed a positive trajectory and kept rising, taking support multiple times from the dynamic support of 20 and 50-day EMAs.
However, the recent selloff has dented the bullish outlook. The price has bounced back from the 50-day EMA but lacks momentum to rise further.
Now, if the bulls are able to defend the dynamic support of 20 and 50-day EMAs, then an increase in price could be observed.
Waves Crypto Volume Analysis
The volume analysis shows that the Waves cryptocurrency received nearly $52.96 Million in volume in the past 24 hours which is 25.67% less than the previous day. It has a live market capitalization of $435 Million.
The volume to market cap ratio of Waves crypto is 12.33% suggesting mild volatility in the market. It has a current circulating supply of 114.19 Million WAVES tokens which is also the total supply.
Development Activity Dropped: How Will It Impact The Price?
The development activity and dev. Activity count represents the recent changes and developments occurring in the WAVES cryptocurrency. The development activity chart highlights a healthy development in January and mid-February. However, there has been a drop in the development activity and dev. Activity contributors count.
Waves Crypto Sentiment Analysis
Moreover, the above chart mentions the negative, positive and weighted total sentiment of the WAVES crypto in the last few months. The sentiment data shows that a positive sentiment has been the trend in the last few months. The weighted sentiment curve has been above the zero line for the last few months.
However, the last few sessions have observed a drop in the weighted sentiment curve and has reached near the zero line. It suggests the negative sentiments have surged in the recent sessions.
Waves Crypto Price Prediction
As per the most positive view of our analysts, the price may attain $4.96 suggesting an upside potential of 27.18%. The most pessimistic view assumes the price to drop to $3.04 if it breaks below the 20-day EMA on the lower side.
Conclusion
Waves crypto price rebounded from the 20-day EMA and stayed higher for the last few sessions. However, the upward momentum seems to be vanishing as several indecisive candlesticks were observed in the last few sessions.
The price currently hovers in a neutral zone in which none of the bulls and bears are in complete domination. Now if the buyers are able to defend the price above the dynamic support of 20 and 50-day EMAs, it may continue to rise. On the other hand, if the sellers dominate and the price breaks below the 50-day EMA, new lower levels may be traced.
Technical levels:
- Support Levels: $3.53 and $3.04
- Resistance Levels: $4.08 and $4.74
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
