- The Wave coin price is currently at $1.721.
- The coin has recently given the breakout of the descending trendline.
- The price has surged by 19.50% from its recent swing low.
The price prediction of the Waves coin is bullish and is indicating the possibility of further growth in the long term. Since mid-August the Waves coin price was consolidating in a range of $1.442 to $1.635. It also had a descending trendline resistance. It initiated a strong bullish rally from the $1.442 support level and has increased by 19.50% in the last 12 trading days. In the way of commencing the bullish rally, it broke above the major resistance such as the descending trendline and the $1.635 level ,which is currently acting as a support.
The rally that the bulls initiated is currently facing difficulties in closing above the $1.848 level. This shows that the bears are trying their best to stop the price from rising further. If the bull reclaims this level then the price may reach its next resistance at $2.168. However, as long as the price is sustained above the $1.635 support level, the bullishness in the price will remain.
The Waves coin price is currently at $1.721 with a 24-hour trading volume of 332.071K. It has registered a fall of 2.7% in the last 24 hours. It is is ranked in the 186th position by CoinMarketCap based on its market capitalization which is worth $195,000,825.
Will the Waves Coin Price Sustain Above the Current Support?
The Waves coin price action shows the overall control of the bulls and indicates that the rally might continue in the upcoming trading sessions. The bullish rally will continue after the bulls close the price above the $1.848 resistance level. After this, the continuation of the bullish rally can be seen till its next resistance at $2.168.
From the bears’ perspective, if the price closes below the $1.635 support level, then the price is likely to fall to its next support at $1.442. If it also gives the breakdown of this support, then it may continue its fall to its next support at $1.214.
Technical Indicators on the Current Trend
After reclaiming the 50-day and 100-day EMAs, the Waves coin price is currently sustaining above them. This indicates that the bulls are in control of the price and as long as the price is sustained above these EMAs, it has a chance to continue its ongoing trend. The relative strength index is at 59.77, which is marked as bullish territory. This shows that the bulls are looking for the opportunity to make the price rise.
Conclusion
The future prediction of the Waves coin is bullish as long as the price is sustained above the $1.635 support level. The technical indicators mentioned above are also bullish. So, investors should keep a close watch on the price closing above the $1.848 resistance level, which will trigger the next phase of the bulls’ really.
Technical levels
- Resistance Levels: $1.848 and $2.168.
- Support Levels: $1.635, $1.442, and $1.241.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only. They do not provide financial, investment, or other advice. Investing or trading in crypto comes with a risk of financial loss.