- The Waves investor seems to be bullish after retesting the crucial support level of $8.0 and sustaining the coin’s price higher above $10.
- The Waves coin price is trading above the 20 and 50 day moving averages and retesting the 100-MA line as a resistance level.
- The WAVES/BTC pair is favoring the bulls by 8.7% at 0.0003093 satoshis.
As quickly as Waves Coin reached its all-time high, sellers appeared and began selling Waves Coin aggressively, becoming a witness to the massacre. Following the plunge, the coin began consolidating near the $8.0 level before attempting another bull run; it is presently trading further over the crucial round level of $10, signaling double bottom territory on the daily price chart.
The Waves coin indicates a solid bullish weekend in the following week. The coin is trading at $12.32, which is slightly bullish by 0.41% at the time of writing. However, the trading volume has seen a 127% increase over the past 24-hours session, which reflects the buyer’s interest during the price recovery. Nevertheless, the volume to market capitalization ratio is 0.4522, which is gradually increasing.
The Waves coin price formed the double bottom formation near the demand zone and now the bulls are attempting to close the daily price candle above the neckline ($12-level). If bulls succeed to close the daily candle above $12, it could act as short-term support for the buyers, and the resistance sits at $20.
The WAVES/BTC pair is favoring the bulls by 8.7% at 0.0003093 satoshis, same as the waves price with ETH pair is higher at 0.004534 ETH. Meanwhile, the USDT pair price has breached the 20 and 50-day moving averages, and now the bulls are approaching towards 100-MA. Furthermore, the 200-MA is far above the current price of Waves coin in the context of the daily price chart.
Bull seems to be aggressive above significant moving averages
The daily RSI seems to be bullish in the overbought territory after the sharp rise. Meanwhile, the averages directional index is suggesting the slightly weak bullish momentum for the Waves coin.
Conclusion
Bulls need to close the daily price candle above the bullish hurdle of $12, then only we could see the $20 as an upcoming bullish hurdle.
Support level – $10 and $8.0
Resistance level – $20 and $35
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
