WAVES Price Prediction Today: Daily (WAVES) Value Forecast – June 4
- The short and medium-term outlook is in a downtrend.
- Responsible selling at key areas may be considered.
WAVES/USD Medium-term Trend: Bearish
Supply zones: $3.00, $4.00, $5.00
Demand zones: $1.50, $1.30, $1.00
The cryptocurrency is in a bearish trend in the medium-term outlook. The journey down south began after the bears took control of the yesterday opening session at $2.66 forming a bearish railroad. WAVESUSD dropped initially to $2.45 and created a flag before the drop to $2.37 in the demand area before the end of yesterday session.
The bears were strong as the market opens today with the 4-hour candle at $2.44. The cryptocurrency dropped further low to $2.29.
Price is below the EMAs which are fanned apart which connotes strength in trend. The stochastic oscillator signal is pointing down at 15%. These suggest downward momentum in the cryptocurrency price.
WAVES/USD Short-term Trend: Bearish
The key supply area at $2.70 witnessed bullish exhaustion signaled by wicks in the candles during yesterday session, hence the rejection of upward price movement. The break of the two EMAs confirmed the bears' takeover with $2.45 as the low of yesterday session before the formation of the bearish flag.
Today’s 1-hour candle sustained the bearish continuation market with a drop in price to $2.29 in the demand area.
Another bearish flag was formed with price up at $2.42 in the supply area before exhaustion. The bears may have resumed the downward journey with the break of the trendline.
Price is below the two EMAs and down at $2.32. The signal of the stochastic oscillator points down at 19% in the oversold region. These imply downward movement in price of the cryptocurrency.
Live waves (WAVES) Price:
1 WAVES/USD =$9.5489 change ~ -5.24%
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