- WAVES Token price makes a morning star pattern in the daily chart.
- The price action indicates a bullish breakout of the consolidation range in the 4-hour chart.
- The pair of WAVES/BTC is trading at 0.0005291 BTC with an intraday gain of +15.52%.
WAVES coin price action indicates a bullish morning star candlestick pattern formation in the daily chart. Furthermore, the coin price completes the pattern with a bullish engulfing candlestick indicating a boom in buying pressure.
As per the pivot points, the resistance levels for the token are residing at $30 and $35 marks. Therefore, in the case of a bearish reversal of the coin price, sellers may find opposition at $27.5 or $25.
The WAVES Token price trades at $29.75, increasing 13.21% in market capitalization over the past 24 hours. However, the intraday trading volume has increased by 500% in the past day, indicating a rise in buyers.
WAVES Token In The 4-hour Chart
WAVES token price action indicates a bullish breakout of the consolidation range in the 4-hour chart. Moreover, the price jump is coupled with an increased trading volume. Thus, a bull run is plausible if the price sustains above the $30 mark.
The EMAs of the 4-hour technical Chart rise higher in a bullish structure with a positive slope. Thus, it could support the prices against a bearish attack. Additionally, the price is testing a 20-period EMA.
The RSI indicator forecasts a surge for underlying bullish as the slope rises higher to the overbought territory.
The ADX indicator shows a rising, indicating trend in high momentum.
MACD indicators in the daily chart indicate that the MACD and signal lines are moving lower over to the neutral area. Thus, it indicates bearish momentum in the token price.
Conclusion – The short-term trend of the WAVES Coin is bullish from a technical standpoint. However, the current chart of the coin price shows a positive outlook. Moreover, it may soon break the $35 mark. So, crypto traders can expect bullish opportunities while they wait until a genuine breakout is confirmed.