- Waves price prediction (BITFINEX: WAVES) indicates that the price is in a consolidation zone and may enter a trend soon.
- The coin price increased by 0.96% over the past day.
- At press time, Waves is trading at $1.9572, and the 52-week price range is $1.235 – $4.084.
Waves is a decentralized network for building and running applications, contracts, and tokens on the blockchain. Its own coin is WAVES, which has no limit on its supply and can work with Ethereum.
The maximum M.C. of Waves (BITFINEX: WAVES) is $195,077,192, based on the data and information from Coingecko, a website that tracks cryptourrecies. This is a theoretical value that assumes all 100 Million ETH tokens are in the market today.
Waves crypto plummeted 1.89% in market value and by 35.29% in trading volume in the last 24 hours, per Coinmarketcap which is a crypto data and info website. Its market value is $218,827,788 and its trading volume is $48,222,279. There are 111,987,928 WAVES in circulation.
Waves (WAVES) open interest is $38.81 Million, as per Coinglass, which is a crypto analysis website, it fell by 4.10% in the previous session. The long versus short ratio for 24 hours is 0.9376. The total number of short positions added in the last 24 hours is $2,106.146 against longs of $53,694.849.
Moreover, WAVES coin showed good performance this month, as it was up by 41.52% but fell by 6.60% in the past six months, showing underperformance. Also, the year-to-date return of WAVES price is positive with a 49.20% incline.
Waves Price Technical Analysis in 1-D Timeframe
The WAVES coin price soared by almost 94% from the major support at $1.2595 to the high of $2.4380, creating higher highs and lower lows in two weeks in June until June 24th.
However, the Waves coin price encountered a hurdle at $2.4380 and fell to the nearest support at $1.8388. Thereafter, WAVES price rebounded, but the resistance was close and the new nearest resistance was $2.220 indicating that the WAVES crypto was trapped in a range-bound situation. Waves price is trading at $1.9558 at the time of writing.
Moreover, in the one-day time frame, we observed that a symmetrical triangle is forming and about to break out. This is a 50-50 pattern as the price consolidates and then picks a direction, which can be either up or down. Right now, the price is consolidating and below the 20 EMA, implying that the bears are selling at every possible price, which is keeping the price below the 20 EMA.
The WAVES price action suggests that if the price faces more pressure from the bears, the price might reach or break the nearest support levels.
Waves crypto price (WAVES) is below the 20 and 200-day EMAs (exponential moving average) and above 50 and 100-day EMAs. Hence, the Waves pric prediction indicates that the coin price has no definite trend and fluctuates in a tight range.
The MACD line at 0.0518 and the signal line at 0.0752 are above the zero line. A bearish crossover is observed highlighting bearishness for the Waves coin. The current value of RSI is 51.22 points, and the 14 SMA is at 55.79 points, the RSI line took rejection and is headed for the oversold zone. Hence, Waves price prediction suggests the coin price is bearish.
Conclusion
Waves (WAVES) coin chart indicates that investors are pessimistic about the coin on the 1-D time frame. The price movement shows a bearish outlook at the time of writing. The technical factors of the Waves price also confirm the bearish trend. The major indicators are giving negative signals and suggest that the downtrend may persist. Therefore, according to Waves’s price prediction, the coin is bearish.
Technical Levels
- The nearest support of WAVES: $1.8388 and $1.4438.
- The closest resistance of WAVES: $2.2207 and $2.4380..
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.