WAVES Price Prediction Today: Daily (WAVES) Value Forecast – July 23

  • The short and medium-term outlook is in a downtrend.
  • Traders may continue to sell at key areas with reversal pattern formation.

WAVES/USD Medium-term Trend: Bearish

Supply zones: $3.00, $4.00, $5.00
Demand zones: $1.20, $1.10, $1.00

WAVESUSD remains in a bearish trend in the medium-term outlook. The loos in bullish momentum denoted by wicks in the candles at $1.55 in the supply area on 20th July suggests a reversal in trend. The area was also around the trend line where a bounce to the downside is expected in the medium-term.

The bears gradually returned with an initial drop in price to $1.41 and $1.37 as the low of the day on 21st and 22nd July respectively.

The momentum down south was sustained as the market opens today at $1.43 with the cryptocurrency down at $1.36 in the demand area.

The formation of lower high and low each day which is characteristic of a down-trending market is obvious.

With price below the two EMAs with the signal of the stochastic oscillator pointing down at 13% in the oversold region, it suggests a downward continuation in price with $1.30 as bears’ initial target in the medium-term.

WAVES/USD Short-term Trend: Bearish

The presence of wicks at $1.44 in the supply area implies bullish exhaustion. Although the market opened on a bullish note at $1.42 with an initial rally to $1.44 in the supply area. The resistance at the 50-EMA prevented further upward price movement.

WAVES USD dropped to $1.37. Minor correction occurred to the 10-EMA as the bears' may have resumed the continuation to the downside.

The signal of the stochastic oscillator points down at 19% in the oversold region with price below the two EMA. This implies downward price movement in the short-term.

Live waves (WAVES) Price:

1 WAVES/USD =$2.3521 change ~ 7.72%

Coin Market Cap

$242.3 Million

24 Hour Volume

$11.04 Million

24 Hour VWAP

$2

24 Hour Change

$0.1817

 

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

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Azeez Mustapha
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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