Waves price analysis shows the presence of a bullish trend in the market. The cryptocurrency has witnessed a slight price increase of 3.80% over the past 24 hours and is currently trading at $3.81. The support for WAVES/USD is present at $3.75, and a break below this level may result in a price decline to $3.50 support. On the other hand, the resistance for the pair is at $3.94, and a breakout above this level could take it to $4.00. which is the next major resistance.
Waves price analysis 4-hour chart: Bulls stumble to keep control
The hourly Waves price analysis chart reveals that the cryptocurrency has been following an uptrend for the last few hours. On the other hand, the price has seen a slight downtrend over the previous few days as the market corrects itself after a strong rally. The market has formed higher highs and higher lows which is a bullish sign. The moving average (MA) on a 4-hour price chart is present at $3.93 due to the bullish trend.
The volatility is increasing on the 4-hour chart, as the MACD reveals increasing bullish momentum in the market as the signal line crosses above the histogram. The RSI indicator is also moving in the overbought region, which indicates that WAVES/USD may see a slight correction before it can resume its upward trend. The upper Bollinger band is at $3.94, while the lower band is at $3.75.
WAVES/USD 1-day price chart: Price moving unboundedly upwards
The 1-day Waves price analysis chart shows that the cryptocurrency is currently trading in an ascending channel. The digital asset has seen a strong rally over the last few days as it surged from $3.00 to its current price level. However, the market may see a correction in the near future as the RSI indicator is currently in the overbought region.
The 1-day MACD for WAVE/USD is currently above the signal line, which indicates a slight bullish momentum in the market. The Relative Strength Index is currently at 37, and a break below this level could signal a price correction. The Bollinger bands are currently showing minor volatility in the market as the upper band is at $394, while the lower band is at $3.77 on the 1-day chart.
Waves price analysis conclusion
The one-day and four hours Waves price analysis is indicating a bullish trend for the day as the price is on its way to recovery once again. The WAVES/USD value is now standing at $3.81 and it can be expected that further upside is coming ahead. The hourly prediction is in favor of the buyers as well, as the price has followed an uptrend in the last four hours.
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