On this page, we are going to discuss HOW TO PREDICT WAVES PRICE AND ITS TECHNICAL ANALYSIS. WAVES/USDT ON A MONTHLY TIME FRAME CHART, WAVES/USDT ON A WEEKLY TIME FRAME CHART, WAVES/USDT ON A DAILY TIME FRAME CHART, WAVES/BTC ON A WEEKLY TIME FRAME. The trend is friendly – let’s survey the WAVES, so that you can fill your bags with WAVES.
Waves (WAVES), originally was set out to improve the first blockchain platform by increasing speed and user-friendliness. WAVES token has an opened supply.
At the beginning, WAVES was set out to help business clients looking to incorporate blockchain technology and improve current processes. The WAVES platform supports the smart contract and dAPP development.
Other products like Gravity which is a cross-chain, oracle network, and decentralized finance platform has been introduced by WAVES.
In 2020, WAVES became interoperable with Ethereum. WAVES has been on the market for a long time and is available on many exchanges.
In this technical analysis, multiple technical indicators will be used to observe WAVES price in multiple time frames.
WAVES is ranked as the 45th largest crypto currency, according to CoinMarketCap.
WAVES is a community -based open-source technology that can benefit finance, identification, gaming, and sensitive data sectors.
What are the prospects of WAVES token in 2022?
Let’s go through the charts!
WAVES/USDT ON A MONTHLY TIME FRAME CHART
By using the Logarithmic chart, we see a clear long-term picture.
With the monthly time frame, we see that the trend is in favor of the bills. WAVES is now testing resistance, with the potential for a breakout.
At the left of the chart, indicate that WAVES has been in a strong uptrend since the beginning of 2020. Higher highs and higher lows until May 2021 has been formed where WAVES hit an incredible 71534% increase.
Since May, the coin has been in a minor correction until finding support last month. The bulls have regained control now.
When looking at previous higher lows, one can observe a reversals confirmed with two candles. History doesn’t always repeat itself but it does often rhyme. The bulls need to close above this resistance level to confirm another leg to the upside.
A look at the weekly chart gives a better view.
WAVES/USDT ON A WEEKLY TIME FRAME CHART
Sticking with the logarithmic charts, and looking at the pattern time frame. You can observe that the price is approaching resistance.
The last time the price was at this level, we form a local top and the price began its sell-off. The price action is expected to a little consolidation at this level before making its next move.
Lets take a closer look for more details!
At the left side of the chart one can see two instances when WAVES was at this level. The first time price approached this level, there was an immediate sell-off from $30 – $12. The second time the price approach this level, there was minor consolidation before the price make a reaction.
There was a double test of resistance before the sell-off. This now the third approach and WAVES is coming in hot! Though, there is no confirmation of the next direction, some early signs of bull regaining control is seen. The bulls needs to close above resistance to confirm the next leg up.
A rejection from this level will make the price revisit the area of interest. But a close above the resistance level will take the price to a new all-time high.
DAILY TIMEFRAME CHART ON WAVES/USDT
Using the logarithmic chart, this time frame gives a better look when to buy or sell.
In this time frame, we get a better picture of price action testing resistance. A rejection from this level will lead to a sell-off towards $23. A close above the resistance will trigger the price to revisit $30.
Before buying or selling the direction must be confirmed. For now, the bulls are in control but, a rejection here can change things around.
WAVES/BTC ON A WEEKLY TIME FRAME
Here we are comparing WAVES to BTC using the logarithmic chart. The price action has been in a long-term range.
The tokens price has recently broken out of a minor downtrend. Since then it has been on a moon mission breaking through minor resistance.
WAVES has been stable against BTC, maintaining it’s range for most of its time. It is now testing major resistance. A break and close above this resistance level will send WAVES to a new all-time high. A rejection from this level will trigger a sell-off towards the previous breakout zone.
SUMMARY OF THE ABOVE ANALYSIS
- WAVES on the monthly time frame indicates that the trend is in favour of the bulls
- The WAVES on the weekly time frame shows that there is no confirmation of the next direction
- WAVES on the daily time frame indicates that the bulls are in control
- WAVES on the BTC weekly time frame indicates that a break and close above resistance will send the price to a new ATH.
Note that this analysis is all based on the personal views of the writer.
HOW TO PREDICT WAVES PRICE AND ITS TECHNICAL ANALYSIS. WAVES/USDT ON A MONTHLY TIME FRAME CHART, WAVES/USDT ON A WEEKLY TIME FRAME CHART, WAVES/USDT ON A DAILY TIME FRAME CHART, WAVES/BTC ON A WEEKLY TIME FRAME
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