WAVES price analysis: WAVES/USD breaks resistance at $51.7

WAVES

TL;DR Breakdown

  • WAVES price analysis appears to be bullish.
  • WAVES trades at $51.7 as of now.
  • The strongest support is present at $33.9,

The WAVES price analysis reveals that the cryptocurrency shows heavy fluctuating behavior with massive decline and incline gaps. For example, on March 30, 2022, the price skyrocketed from $49 to $59. After this, the price experienced a large flash crash and declined to $51.9 on the same day. After that, the price gradually reduced to $49.8. Finally, on March 31, 2022, the price increased slightly and went to $51.7, which is the current price of WAVES.

WAVES trades at $51.7, with a 24-hour trading volume of $1,651,002,269. WAVES has been down 4.06% in the last 24-hours with a live market cap of $5,471,101,737. WAVES currently ranks at #32.

WAVES/USD 4-hour price analysis: Latest developments

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 $61.7, which serves as the strongest resistance. Conversely, the lower limit of the Bollinger’s band is available at $33.9, 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 have crossed under the Moving Average curve to go into a bearish movement. However, the price follows an upward path, indicating future bullish opportunities.

WAVES price analysis: WAVES/USD breaks resistance at $51.7 1
WAVES/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 67, which shows that the cryptocurrency falls in the overvalued region, with the cryptocurrency showing complete inflation. The RSI path can be seen following a straightforward, steady approach that signals a stable trend, with the buying and selling activities equal.

WAVES price analysis for 1-day: Market breaks

The WAVES price analysis reveals the market’s volatility following a significantly increasing movement. This means the value of WAVES that is subject to variable fluctuations will be more prone t experience changes. The upper limit of the Bollinger’s band exists at $51.9, which serves as a support point for WAVES. The lower limit of the Bollinger’s band is available at $18.1, which represents another support point for WAVES.

The WAVES/USD price appears to be crossing over the curve of the Moving Average, signifying bullish momentum. The WAVES/USD price seems to break through the resistance band, causing a breakout in the market. This will cause an extremely volatile situation in the market with possibilities of a reversal.

WAVES price analysis: WAVES/USD breaks resistance at $51.7 2
WAVES/USD 1-day price chart source: TradingView

The WAVES price analysis shows that the Relative Strength Index (RSI) is 89, which indicates an immensely overvalued cryptocurrency. This means that the WAVES/USD suffers from complete in. The RSI appears to be following a steady straight path, meaning that the price won’t be moving to either extreme; however, the price will soon move towards excessive devaluation since the market is broken.

WAVES Price Analysis Conclusion

Concluding the WAVES price analysis, we deduce that the bulls rule the market for now, but they might not be able to maintain their movement for long; the WAVES price might undergo a reversal movement. The bulls need to maintain this momentum if they want to raise the price of WAVES and help it reach the goal of $52. However, keeping in view all the facts and figures of the market, the bears still have a chance to bounce back.

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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