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- Waves price is looking very bullish in intraday trading session as it is up by 17.19%.
- Buyers maintain prices above the 20-day moving average in the context of the daily price chart.
- Trading volume increased by 472% to $411.2 million in the last 24 hours.
Bitcoin and Ethereum are in a bullish mood this weekend. BTC attempted a recovery above $21K as ETH noted a 30-day high last night at $1632. As a result, the rest of the altcoin market is moving broadly. Waves Crypto is one of them, rising 17% in a single trading session.
This morning’s gains reflect extreme buying pressure in Waves crypto, in fact, the bears have been ignoring the selloff so far. This week, the price of Waves is painting a third strong Bullish candle. Meanwhile, this week, buyers have recovered 18.8% in time, this buying pressure has recovered from the losses of the past three months.
Against the USDT pair, Waves coin is trading at $3.85 mark at the time of writing. The price action makes higher-lows for the last three days. As a result, market cap reported at $442.49 market today together with 15.3% gain overnight. In addition, Trading volume increased by 472% in the last 24 hours recorded at $411.2 million.
Due to sharp sell-off, Waves price noted 52 weeks low at $3.02 level, which flipped into the key hedge zone of bulls. Besides, $4.2 to $4.5 level may act as a bullish hurdle, fortunately, Buyers sustain prices above the 20 day moving average in terms of the daily price chart. As well as, the price moved above all DAMs in the 4 hours chart, becoming positive.
Over the daily price scale, RSI is moving towards the overbought zone. Now RSI peak stays at 62 mark after 9 months. Besides, MACD still observes in the negative region but is moving around the neutral zone after a bullish crossover.
Conclusion
Due to the weekly price rally, Waves crypto price reaches closer to the next resistance zone. Notably. Price trades above 20 DMA on the daily price chart, and more upside momentum is expected ahead.
Support level – $4.5 and $6.5
Resistance level – $3.0 and $2.5
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 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.
