- The WAVES crypto price has shown 19 green days in the last 30 days.
- The Waves token has high liquidity based on its market cap.
Waves, founded by entrepreneur Sasha Ivanov in 2016, is an open blockchain protocol and development toolkit for Web 3.0 applications. It offers tools for building and running decentralized solutions focusing on security, reliability, and speed. Waves enables developers and companies to leverage blockchain properties for secure and auditable transactions.
The derivatives trading volume for the crypto has witnessed a decline of 45.5% over the last 24 hours, following which the spot trading volume of the Waves token has further declined by 34%.
The token’s market cap has also been trading flat in the last 24 hours, after which it has witnessed an advance of 0.08%, resulting in $435.685M. Furthermore, the market cap ranking of the token is #189.
The value of the traded volume for the crypto over the last 24 hours is $38.991M, and the derivatives traded volume is worth $30.18M. Also, the open interest in crypto is worth $41.9M, which has witnessed a decline of 4.7%.
The long/short ratio of the crypto is worth 0.972, and it has witnessed a long liquidation of $45.64K in the last 24 hours. It is further followed by a short liquidation of $521.19, representing the seller’s price dominance in the previous 24 hours.
Waves crypto has very high volatility per Coincodex, which results in 11.33%, while the market cap dominance is just 0.02%. Also, the crypto sentiment is bullish, and the fear and greed index indicates greed in the crypto price.
WAVES Token Supply Overview
There are a total of 2.1K holders of WAVES tokens, and the Onchain market cap of the crypto is $3.371M, followed by a circulating supply market cap of $381.85M.
Also, the circulating supply of the crypto is 114.207M WAVES, and the total supply of the crypto is the same. It has a medium supply inflation of 2.91%, and its maximum supply is infinite.
Social Dominance Vs Development Activity
The development activity for the crypto has not witnessed any significant change over the last few days, which shows that the community is not doing anything specific or working on any project to make crypto popular. It further has led to the decline in the social dominance of the crypto.
Waves Crypto Technical Analysis
The price of the WAVE crypto is following a strong uptrend on the larger timeframes and has broken out above crucial resistances. The crypto price is sustained above the breakout levels, indicating strength for further advances.
If the crypto’s price further sustains above the breakout levels and breaks above the most recent swing high, a further surge to the next resistance level of $6.0 can be seen in the crypto price.
WAVES/USD Chart by TradingView.com
The price of the WAVE token is trading above the 20, 50, and 200-day EMAs, which are trading in a golden cross. With the advancement in the price of crypto, the values of the EMAs are also advancing, indicating a solid bullish trend.
The MACD and the signal line are trading in a bearish crossover. Despite this, it is sustaining above the zero level, indicating bullishness in the overall trend of the crypto price.
The RSI has declined from the overbought zones but is still sustaining above the 50 level, indicating strength in the price.
Summary
WAVES crypto exhibits bullish momentum, sustaining breakout levels with a strong uptrend. It showcases resilience with 19 green days in the last month and high liquidity. Technical analysis suggests further price advances, supported by EMAs’ golden cross and RSI strength. A surge toward $6.0 resistance is anticipated, backed by bullish indicators.
Technical Levels:
- Support levels: $1.3600 and $2.00
- Resistance levels: $6.700 and $11.700
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.