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Waves price analysis: Cryptocurrency devaluates up to the $11.37 mark after bearish turnover

Waves price analysis Cryptocurrency devaluates up to mark after bearish turnover

TL;DR Breakdown

  • Price receded back to $11.371 low.
  • Waves price analysis confirms downtrend.
  • Support is now at $7.807 extreme.

The most recent Waves price analysis shows a bearish trend for the cryptocurrency as the bears have been at the winning edge for the last 24-hours. Although a strong bullish wave was controlling the price trend in the previous week, today’s trend proved relatively in support of the sellers. The WAVES/USD value currently sits at $11.371, and a further decrease in coin value can be expected if the bears remain consistent.

WAVES/USD 1-day price chart: Price goes down to $11.371 after bearish drift

The daily Waves price analysis predicts a downward trend for the market as the selling momentum remained high during the day. The bears have successfully tackled the unfavorable circumstances as the bullish current has been disrupted. The price is now at $11.371, and further devaluation is to follow if the selling activity experiences a further rise. Moving on towards the moving average (MA) value, which is $10.264 for the one-day price chart.

Waves price analysis: Cryptocurrency devaluates up to the $11.37 mark after bearish turnover 1
WAVES/USD 1-day price chart. Source: TradingView

A crossover between the SMA 20 curve and the SMA 50 curve was reported earlier, but now it seems that the trends are shifting towards the sellers. The volatility is on the rise, which is a relatively negative indication of upcoming market trends. The upper Bollinger band value is now $11.701, whereas the lower Bollinger band value is $7.807.

Waves price analysis: Bearish curve demotes coin value down to $11.368

The four-hour Waves price analysis supports the bears as the price has covered a downward movement in the past few hours. The descending curve confirms a bearish trial as red candlesticks mark the hourly price chart. The bearish momentum intensified as the price dropped down to $11.37 low. The short-term trending line is also moving in the bearish direction now. On the other hand, the moving average mentioned in the four-hour price chart stands at $11.58.

Waves price analysis: Cryptocurrency devaluates up to the $11.37 mark after bearish turnover 2
WAVES/USD 4-hour price chart. Source: TradingView

The volatility is seemingly increasing, which means that the ongoing downtrend may extend within the next few hours. The Bollinger band indicator’s values have shifted as thus that now the upper value is $12.26 whereas the lower value is $9.998. The RSI score moved down to 55.93 because of the downward wave continuing for the past few hours.

Waves price analysis: Cryptocurrency devaluates up to the $11.37 mark after bearish turnover 3
WAVES/USD technical indicators chart. Source: TradingView

The WAVES/USD technical indicators chart predicts a neutral trend because of the constant fluctuations in market trends. There are still ten indicators present on the selling position, whereas eight indicators are found on both of the neutral and buying positions.

The moving averages indicator predicts a neutral trend as well. Seven indicators occupy the selling and buying positions, whereas only one indicator is present in the neutral position. The Oscillators provide a negative hint regarding the current market trends. We can see seven oscillators on the neutral level, three on the selling, and one oscillator on the buying level.

Waves price analysis conclusion

The one-day and four-hour Waves price analysis confirms a bearish market trend for the day. The WAVES/USD value decreased to $11.371 because of the downtrend. The four-hour price chart displays red candlesticks as the bears remained at lead during the past few hours. A further drop in coin value is to be expected as the selling activity is constantly growing at present.

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.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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