WAVES Price Prediction Today: Daily (WAVES) Value Forecast – June 18
- The short-term is in the downtrend while the medium-term outlook is in consolidation.
- Patience should be exercised during consolidation.
WAVES/USD Medium-term Trend: Ranging
Supply zones: $3.00, $4.00, $5.00
Demand zones: $1.50, $1.30, $1.00
The cryptocurrency is in a range-bound market in the medium-term outlook. The coin had been ranging since 3rd June. A fakeout occurred over the weekend on 16th June, when price shut up to $2.68 but closed within the range with $2.30 as the low of the day.
The bulls manage a push to $2.52 above the upper supply area of the range during yesterday session but closed within the range and indication of bears dominance.
The momentum to the downside is continuing as markets opened today on a bearish note at $2.44. WAVESUSD fell to $2.39 below the two EMAs.
The stochastic oscillator signal is pointing down at 33%. This suggests downward momentum in the cryptocurrency price within the range in the medium-term.
$2.50 is the upper supply area while $2.25 is the lower demand area of the range. Patience should be exercised for a breakout at the upper area or a break down at the lower area with a retest before a position is taken.
WAVES/USD Short-term Trend: Bearish
The bears' dominance that started yesterday at $2.51 in the supply area after the price rejection was evident as the market opens today on a bearish note signaled by a bearish doji at $2.44.
Increased bears pressure broke the EMAs crossover as the coin dropped further to $2.39 in the demand area.
$2.34 is on the card as the initial target as the bearish momentum increased and more candles opened and closed below the two EMAs.
Live waves (WAVES) Price:
1 WAVES/USD =$8.8470 change ~ -9.44%
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