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Waves price analysis: Price striving for recovery above $23 after the bearish streak

Waves price analysis Price striving for recovery above after bearish streak

TL;DR Breakdown

  • Waves price analysis shows the bulls are urging to make a comeback.
  • Price levels have been upgraded to $24 today.
  • Strong support can be spotted at $22.6.

The Waves price analysis is going in the bullish direction for the day. The bulls are trying to make a comeback after enduring loss in the past week. The price has heightened to the $24 level after the bulls made returns. Further improvement in price can be expected if the bullish momentum grows more stronger. The SMA 20 curve is moving higher as well which is also a bullish sign.

WAVES/USD 1-day price chart: Price rejoins $24 level after the bulls take action

The 1-day Waves price analysis shows considerable signs of recovery as the bulls have returned back. The past week has been highly crucial for cryptocurrency, but today the price has increased by following the bullish trend. Currently, it is resting at $23.81 and is expected to move higher in the upcoming days as well. The moving average (MA) value is standing above the current price as it is present at the $24 level.

Waves price analysis: Price striving for recovery above $23 after the bearish streak 1
WAVES/USD 1-day price chart. Source: TradingView

The volatility is decreasing which means further bullish trends can be expected in the future. Similarly, the Bollinger bands values have changed as well as now the upper value is $33.23 whereas the lower value is $20.4. The Relative Strength Index (RSI) score is now 43.32 because of the increased buying activity.

Waves price analysis: Bears obscure any chances of forward movement

The 4-hours Waves price analysis is showing signs of bearish activity as the price has decreased up to $24. The bears have taken up their chance of making the price undervalued and have succeeded so far in dodging past the bullish momentum. The moving average is still below the current price as it is settled at $23.634 at the time of writing. Similarly, the Bollinger bands average value is lower than the price as well as it is $23.66 in the 4 hours price chart.

Waves price analysis: Price striving for recovery above $23 after the bearish streak 2
WAVES/USD 4-hours price chart. Source: TradingView

The volatility is on the decreasing side, which is a quite positive sign regarding future trends. Moreover, the Bollinger bands values are now as such that the upper band is at $24.71 whereas the lower band is at $22.617. The RSI curve is moving downwards as well and the score is currently set at 49.12.

Waves price analysis: Price striving for recovery above $23 after the bearish streak 3
WAVES/USD technical indicators chart. Source: TradingView

The bulls and the bears have given tough competition to each other, which is why the selling and buying indicators are on the equal side. We can see that there are nine indicators on both the selling and buying marks, whereas the remaining eight indicators are on the neutral one.

The moving averages indicator is giving bearish signals because the past week proved highly critical for the coin value. There are eight indicators resting at the selling point, six at the buying point, and one indicator is at the neutral point. The Oscillators are giving positive signals to the buyers as well and there are seven oscillators on the neutral level, three on the buying, and one on the selling level.

Waves price analysis: conclusion

The 1-day and 4-hours Waves price analysis is predicting that the chances of improvement are coming towards the bulls way. The price has gone up to $23.813 during the day because of the bullish momentum, which is a great way of ending the month. Moreover, the support at $22.6 is also giving an edge to the bulls as they are now regaining their strength.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Richard Adrian

Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience - Cryptopolitan.

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