- WAVES/USD market still relatively features in a bearish outlook.
- Bearish moves are expected to take over the market's ride after a decent line of resistances forms around the trend-line of the Bollinger Upper Band.
WAVES/USD Medium-term Trend: Bearish
- Resistance levels: $1.60, $1.70, $1.80
- Support levels: $1.20, $1.10, $1
In spite of a sign of slight up rise in the valuation of WAVES market as paired with the US dollar in the medium-term run, the price level still relatively features in a bearish outlook. The crypto’s trend is now between a high value at $1.50 and $1.30 marks. But, the market is now trading around $1.40 point.
The 50-day SMA is over the Bollinger Middle Band around $1.40 mark. The Stochastic Oscillators have headed northwards near range 80 to signify the lengthy degree of the bulls’ capacity in the market.
The bears are most likely going to gain the market advantage around its current trading point at $1.40. While the $1.50 remains a key point of resistance to furthering market rise.
WAVES/USD Short-term Trend: Ranging
As at the first formation of 1-hour candlestick today, the WAVES/USD market emerged as being bullish. But, the subsequent formations over a couple of hours have formed in ranges of $1.45 and $1.40 marks. Yesterday’s sessions witnessed a 1-hour bearish candlestick among its rising moves to the north. The Bollinger Bands point more to the north. The 50-day SMA is between $1.40 and $1.35 price levels. The Stochastic Oscillators are in the overbought zone.
The bulls are expected to get back in this crypto-market on a gradual process. Meaning that the market will face resistances mostly it trades around the trend-line of the Bollinger Upper Band.
Live waves (WAVES) Price:
1 WAVES/USD =$2.3522 change ~ 7.02%
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