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WAVES price analysis: WAVES/USD shows wavy behavior at $15.4

WAVES

TL;DR Breakdown

  • WAVES price analysis appears to be bullish.
  • The strongest resistance is present at $17.9.
  • The strongest support id present at $14.86,

The WAVES price analysis reveals that the cryptocurrency shows heavy fluctuating behavior with huge decline and incline gaps. On January 3, 2022, the price skyrocketed from $15.14 to $15.79. After this, the price experienced a huge flash crash and declined to $15.16 on the same day. The price gradually rose to $15.6. On January 4, 2022, the price increased slightly and went to $15.76, only to plummet again to $15.14. The price gradually increased went to $15.42, which is the current price of WAVES.

WAVES/USD 4-hour price analysis: Market volatility declines as bears come into action

The WAVES price analysis shows the market’s volatility following a declining trend making the price of WAVES less prone to experience variable change. The upper limit of the Bollinger’s band is present at $15.7, which serves as the strongest resistance. The lower limit of the Bollinger’s band is available at $14.8, which represents the strongest support.

The WAVES/USD price appears to be crossing under the curve of the Moving Average, signifying a bearish trend. The market seems to be experiencing fluctuating trends, and it has not yet decided on maintaining a solid direction. The WAVES price path can be seen to have crossed under the Moving Average curve to go into a bearish movement.

WAVES price analysis: WAVES/USD shows wavy behavior at $15.4 1
WAVES/USD 4-hour price cart source: Trading view

The Relative Strength Index (RSI) is 54, which shows that the cryptocurrency falls neither in the undervalued category nor the overbought category. It simply indicates no signal towards both extremes. The RSI path can be seen following a straightforward, steady approach signaling a stable trend in the future.

WAVES price analysis for 1-day: Market shows bullish momentum

The WAVES price analysis reveals the market’s volatility following a dormant trend. This means the value of WAVES that is subject to variable volatility will remain constant. The upper limit of the Bollinger’s band exists at $17,9, which serves as the strongest resistance. The lower limit of the Bollinger’s band is available at $13.8, which represents the strongest support.

The WAVES/USD price appears to be crossing over the curve of the Moving Average, signifying bullish momentum. The trend seems to be fluctuating as the price path shows that the cryptocurrency has just recently shifted to a bullish trend. The most likely scenario indicates that the bulls will maintain this trend.

WAVES price analysis: WAVES/USD shows wavy behavior at $15.4 2
WAVES/USD 1-day price chart source: Trading view

The WAVES price analysis shows that the Relative Strength Index (RSI) is 43, which indicates a relatively stable value. This means that the WAVES/USD value falls neither on the undervalued category nor the overbought slot. The RSI appears to be following a steady straight path meaning that the price won’t be moving to either extreme anytime soon.

WAVES Price analysis Conclusion: The market shows bullish momentum with bearish opportunities

Concluding the WAVES price analysis, we deduce that the bulls have reclaimed control of the market now, and if that keeps up, WAVES price might undergo a significant incline. WAVES has been showing a rocky bullish movement with massive fluctuations in the past few days. The bulls need to maintain this momentum if they want to raise the price of WAVES and help it reach the goal of $15.80. However, keeping in view all the facts and figures of the market, the bears still have a chance to bounce back, but that is the less likely scenario.

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.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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