- The waves coin shows a bullish crossover of the 50 and 100 in the daily time frame
- The WAVES/BTC pair was trading at 0.0004453 BTC with a gain of 11.34%
- The 24 hr trading volume in WAVES is $220.1 Million
As mentioned in my previous article WAVES coin, the coin price gave a decisive breakout from its consolidation range, providing the waves traders an excellent first target of the $21 mark. Furthermore, the current price of the WAVES coin is $20.4 with an intraday gain of 3.22% and is just wavering below the overhead resistance level, thinking about its next move from this area of interest(AOI).
Concerning the EMA’s, the WAVES coin is trading above the 20, 50, 100, and 200 EMA, indicating a bullish trendline in the coin market. Moreover, the chart also shows a bullish crossover of the 50 and 100 EMA, which attracts even more buyers to the coin.
The RSI (BULLISH) value is 62, indicating a slightly bullish sentiment in the WAVES coin as the RSI line is also about to enter the overbought zone.
Waves Coin Crypto Chart In The 4hr Time Frame
The WAVES coin shows a decent bulls rally supported by an ascending trendline. This support trendline has provided multiple support to the price, except the 9th august fakeout. Thus, the waves traders can still consider this trendline to offer a good entry opportunity in this rally provided with some proper confirmation signals.
The MACD indicator (BULLISH) shows both the MACD and the signal line moving higher to the neutral zone(0.00), indicating a bullish sentiment in the coin.
Conclusion: From the technical perspective, the WAVES coin shows a strong bullish outlook in its price action and indicators. However, as mentioned above, the coin is currently on the doorstep of another resistance line of the $21 mark. Thus, long traders should wait until the price projects another opportunity for them.
Support– $19.5
Resistance– $21