WAVES Price Prediction: Is $Waves Hinting At A Reversal To $5?

• WAVES Price Prediction points out to falling prices of WAVES which lost almost 96% from all-time high
• WAVES Coin witnessed a massive pump of 125% from its swing in the last week.

WAVES Price Prediction underlines the bearish sentiments of the market as WAVES Token have depleted 96% from its all-time high. WAVES Coin is trading at $2.089. The Market is up 10.17% in the last 24H. The 24H Volume witnessed a pump of 75.42%. The overall market cap of $WAVES Token is $233,807,292.

On the 22nd June, DWF Labs, A global web3 investment organization made a commitment of 500K WAVES declaring its support to the WavesDAO Project. The WavesDAO project is a platform that aims to support Projects based on Waves Blockchain.

WAVES Price Prediction: A Massive pump from a key support!

The Daily charts are hinting at a potential change of trend as WAVES Crypto witnessed a massive pump of 125% from its swing low. The market started its recovery on 10th June after it tested the support of $1.284. On the 24th June, WAVES token rallied 90% in a single day, piercing through the resistance of $2.12.

WAVES Price Prediction highlights the intense buying of the token in the last week. The bears couldn’t withstand the buying pressure and were forced to exit from their selling positions which pushed the prices higher. If the current momentum continues, WAVES Price may reach $5 soon.

Pullback after a massive pump: Technical Indicators

On the 4H Chart, $WAVES Coin is getting a pullback after the recent Bullish price action. The price managed to flip the 9,15 and 200 EMA on the 4H which has changed the trend in the short term. The Volume justifies the pump with big green bars and diminishing red bars.

The Price has made it below the resistance of $2.12. The Bulls must sustain above this resistance in order to maintain its trajectory towards higher prices. The Short term bull trend may get hampered if the prices go below 200 EMA. The market volatility is very high and investors should remain cautious.

RSI: The RSI indicator is currently at 57.27 on the 4H. It means the market can be sideways

MACD: The MACD is about to make a bullish crossover. The Histogram highlights the loss of momentum of the sellers. The market is bullish in the short term

200 EMA: As observed, on the 4hr, the price is trading above the 200 EMA(exponential moving average) which acts as a significant support. This is a clear indication of an uptrend where the buyers are in control and for a trend reversal, the price must break and trade below the 200 EMA.

Conclusion:

WAVES Price Prediction underlines the bearish sentiments of the market as WAVES Token have depleted 96% from its all-time high. Amidst the turmoil, the market witnessed a sudden pump from a key support which has changed the sentiments to bullish in the short term. Such a recovery may lead to $5 prices soon. Technical indicators are pointing at shifts of momentum. The volatility has increased and investors should follow a good risk-management plan to make the most of it.

Technical levels

support levels: $0.6 -$0.8
resistance levels:$1.2-$1.28

Disclaimer:

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.