- 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 moving in the bullish trend for today. After a week of losses, the bulls are attempting to recover. About of ascents, the value has risen to around $24. If the momentum continues to increase, further appreciation is anticipated. The SMA 20 curve is also rising, indicating that things are looking up for investors.
WAVES/USD 1-day price chart: Price rejoins $24 level after the bulls take action
The price analysis for the Waves platform reveals that the bulls have made a comeback, with several indications of recovery. Cryptocurrency has had a big impact on our economy recently; however, today’s rise was fueled by optimism. It is currently resting at $23.81 and is expected to climb even higher in the coming days. The current price is supported by the MA value, which is $24.
WAVES/USD 1-day price chart. Source: TradingView
The price has fallen, suggesting that further bullish trends may be expected in the future. Similarly, the Bollinger bands values have altered, with the upper value now being $33.23 and the bottom value is $20.4. Because of increased buying activity, the Relative Strength Index (RSI) score is now 43.32 percent rather than 40 percent.
Waves price analysis: Bears obscure any chances of forward movement
As of this writing, the price of Waves 4-hours is $24. The bears have taken up their opportunity to make the price undervalued and have so far avoided past the bullish momentum. The moving average remains below the current price at $23.634, indicating that the buyers cannot breakthrough. In addition, while the Bollinger bands average value is greater than $23.66 in the 4-hour price chart, it is currently at $23.66 in the 4 hours price chart.
WAVES/USD 4-hours price chart. Source: TradingView
The volatility is declining, which is a good sign for future developments. Furthermore, the Bollinger bands values have now been set at $24.71 as the upper band and $22.617 as the lower band, thus indicating an improvement in price movement. The RSI curve has also started to descend, with a current score of 49.12.
The bulls and bears have given each other strong rivalry, which is why the selling and buying signals are on par. We can see that there are nine indicators on both the selling and purchasing lines, whereas the remaining eight indicators are on neutral ground.
The moving averages indicator is giving bearish signals because the cryptocurrency’s price has seen a lot of volatility in recent weeks. Eight indicators are resting on the selling border, six on the purchasing border, and one at the neutral point. The buyers received positive Oscillators signals as well, with seven oscillators on the neutral level, three on the buying level, and one on the selling level.
Waves Price Analysis: Conclusion
The 1-day and 4-hour Waves price analysis is forecasting that the odds of a bull run are growing. Because of the rising momentum, the price has increased to $23.813 during the day, which is a fantastic way to end October. Furthermore, because they have regained their power, the support level at $22.6 provides bulls with an advantage.
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