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Waves price analysis: WAVES loses value at $3.49 after a bearish run

Waves price analysis

Today’s Waves price analysis shows that the market is bearish today after rolling over from the resistance at $3.57. The market has been on a downtrend for some time now, and it looks like this trend could continue in the near term. The biggest support level for WAVES/USD is present at $3.44, and if this level is broken, the market could see a further downside.

The digital asset is currently trading at $3.49, and it has a market capitalization of $383 million. The 24-hour trading volume for the asset is $120 million, and it is down by 1.94% in the last 24 hours, it is currently the 89h largest cryptocurrency by market cap.

WAVE/USD 1-day price chart. Waves step down to the $3.00 range

The 24-hour Waves price analysis chart shows that the market has been in a downtrend since it made a high at $3.60 in last week. The market then rolled over and fell to a low of $3.49 for the last 24 hours. The market has been consolidating for the last few days, and it looks like the bears are in control of the market. The market looks like it could continue its downtrend in the near term as the bears look to take control.

image 241
WAVES/USD 1-day price chart. Source: TradingView

The WAVES/USD price appears to be crossing under the 200-day moving average, which is a bearish sign. The market is also trading below the 50-day moving average. The RSI for the pair is currently at 33.92, which indicates that the market is in bearish territory. The MACD for the pair is currently in bearish territory as well.

WAVES/USD 4-hour price analysis: Waves faces rejection at $3.57

The 4-hour Waves price analysis shows that the present condition of the market demonstrates negative potential as the price moves downward. Moreover, the market’s volatility follows a slight opening movement, resulting in the cryptocurrency trading at the $3.00 level.

image 239
WAVES/USD 4-hour price chart. Source: TradingView

The market has been facing rejection at the $3.57 level, and a break above this level is needed for the bulls to take control of the market. The next major resistance level for WAVES/USD is present at the $4.00level. The MACD line is currently below the signal line, which is a bearish sign. The RSI for the pair is currently above 50, which indicates that the market may be correct in the near time. The 50-moving average is currently below the 200-moving average, which is a bearish sign.

Waves price analysis conclusion

Waves price analysis shows that the market is bearish today after rolling over from the resistance at $3.57. The market has been on a downward trend for some time now, and it looks like this trend could continue in the near term. The biggest support level for WAVES/USD is present at $3.44, and if this level is broken, the market could see a further downside.

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.
Editah Patrick

Editah Patrick

Editah is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates her, she finds the intersection of both technology and finance mind-blowing. Her particular interest in digital wallets and blockchain aids her audience.

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