WAVES Price Analysis: Waves Rides Wave to ATH But Hits Month Long Trend

Published May 9, 2021 | Updated May 9, 2021

In Brief
  • Waves has risen nearly 220% in the last 10 days
  • Price has been rejected off month long trend
  • Major support is at $30.70
waves

WAVES Price Analysis: Waves Rides Wave to ATH But Hits Month Long Trend

  • Waves has risen nearly 220% in the last 10 days
  • Price has been rejected off month long trend
  • Major support is at $30.70

Waves has had an amazing year rising nearly 5000% in 12 months. The altcoin market has been exploding recently with no end in sight. Although, this may be cooling off as WAVES hit a near 45 day top trend line.

The price of waves has formed a broadening wedge the last month and a half and the price has been respecting both trends very well. Recently, Waves hit an ATH of $42. The area of rejection was met with the top trend of the broadening wedge. For waves to have a shot at its ATH again, it must break and hold important resistance zone of $36.32.

WAVES Price Analysis:

waves
Chart by TradngView

After rising a great deal the last few weeks, it is evident Waves needs a cool off period. The price has been holding above its minor support area of $30.70 for almost a week. This area is also met with the 10MA which has held the price of waves for nearly 2 weeks. If price breaks below these marks, expect retracement to $23.70.

While looking at the RSI, it is easy to conclude that it needs some correction. The strength recently exited overbought levels and looks to extend to low 60 values. The Stochastic RSI also has been coming down as it was in overbought territory for nearly a week. A price correction on Waves seems very due.

WAVES intraday levels

  • Spot rate: $31.45
  • Trend: Bullish
  • Volatility: High
  • Support: $30.70
  • Resistance: $36.32

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Domenic Fiore has a love for the financial markets. He decided to skip the college route to pursue entrepreneurship. He saw the vision to become an entrepreneur and wanted to achieve success from a young age. Domenic owned & operated a car detailing business since the age of 16, along with being a part of two CBD businesses through 2018 & 2019. He started his investment and trading career early trading in 2017 when he bought a newly released cryptocurrency alt-coin and saw 10x return in a few months. He then realized there was much potential and dove head first into learning everything he could. He became very passionate about technical analysis and knew it was his route to financial freedom. Over the last 4 years, Domenic has shared his analysis with many groups and received amazing feedback. Shortly after he wanted to help assist in the pursuit of spreading and helping others achieve success in the trading industry.

Subscribe to our newsletter for free

Domenic CoinGape 26 Articles
Domenic Fiore has a love for the financial markets. He decided to skip the college route to pursue entrepreneurship. He saw the vision to become an entrepreneur and wanted to achieve success from a young age. Domenic owned & operated a car detailing business since the age of 16, along with being a part of two CBD businesses through 2018 & 2019. He started his investment and trading career early trading in 2017 when he bought a newly released cryptocurrency alt-coin and saw 10x return in a few months. He then realized there was much potential and dove head first into learning everything he could. He became very passionate about technical analysis and knew it was his route to financial freedom. Over the last 4 years, Domenic has shared his analysis with many groups and received amazing feedback. Shortly after he wanted to help assist in the pursuit of spreading and helping others achieve success in the trading industry.
Follow Domenic @