• The short and medium-term outlook is in a bearish trend.
• Traders may look to sell at bullish exhaustion areas.

WAVES/USD Medium-term Trend: Bearish

Supply zones: $3.00, $4.00, $5.00
Demand zones: $1.30, $1.20, $1.10

The cryptocurrency is in a downtrend in the medium-term outlook. The break down at $2.25 in the lower demand and subsequent retest sets the coin up for the journey down south. WAVESUSD fell to $1.78 in the demand area on 28th June before loss momentum loss.

$2.02 in the supply area was the point the bulls lost momentum this was around the 10-EMA. $1.72 in the demand was yesterday low as the bears resumed downward continuation.

The bearish railroad formation after today’s opening at $1.88 in the supply area signaled the bears' takeover as the candle closed with a wick. Price is below the two EMAs with the signal of the stochastic oscillator pointing down at 24%. These suggest a continuation in the journey down south.

$1.50 in the demand area remains a target for the bears in the medium-term.

WAVES/USD Short-term Trend: Bearish

The bearish engulfing candle formed after today’s opening at $1.87 in the supply area signaled the bears' takeover as the candle closed with wick an indication of bullish exhaustion. This was also around the trendline a strong resistance area which confirms the bears' dominance. Price dropped to $1.70 in the demand area.

The signal of the stochastic oscillator points up at 25% an indication of minor upward price movement may occur as the bulls’ stage a brief returned before the bears resume the downward movement.

$1.60 is on the card as the initial target as the bearish momentum increased and more candles opened and closed below the two EMAs.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.