- The short and medium-term outlook is in the downtrend.
- Responsible selling should be considered.
WAVES/USD Medium-term Trend: Bearish
Supply zones: $3.00, $4.00, $5.00
Demand zones: $1.00, $0.80, $0.60
The cryptocurrency continues in a downtrend in the medium-term outlook. The bears held on to the market after the target at $1.77 was attained with a retest on 11th July. WAVESUSD plunges to$1.77 in the demand area before the loss in momentum.
The bullish momentum pushed the coin back up to the broken demand area now a key supply area on12th and 14th July. The bulls were in control as the market opened today at $1.48. The cryptocurrency was up at $1.66 in the supply area before momentum loss at the 50-EMA and the bears stage a comeback.
Price is below the two EMAs with the signal of the stochastic oscillator up at 53% suggesting a minor push up to the key supply area before the bear possible returned for a downtrend. $1.30 is the bears' target in the medium-term.
WAVES/USD Short-term Trend: Bearish
The initial break of the trendline by the bear pressure after the drop in the cryptocurrency price to $1.47 in the demand area suggest the beginning of a downward journey.
The signal of the stochastic oscillator points down at 67% is suggestive of a continuation of the downward momentum in price of the coin in the short-term.
$1.30 in the demand area is on the card as the initial target as the bearish momentum increased and more candles opened and closed below the two EMAs.
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