- The WAVES price closed the previous day’s trade at INR 696.47 with a market capitalization of INR 73.92 billion and a circulating supply of 108,415,168 WAVES
- After a brief upswing, the WAVES price appears to be consolidating to accumulate gains to further ignite a significant bull run ahead
- With the next leg up, the asset may aim to gain a minimum of 47.5% to regain the levels above INR 1000
Price Comparison Table
|Crypto-Asset||Start-Month Price (May)||Mid-Month Price (May)||End-Month Price (May)||% Change|
|Waves (WAVES)||INR 1010.53||INR 562.64||INR 696.47||-45.09%|
* As of 01-June-2022
Check latest prices, charts, and data of WAVES/USDT
Waves (WAVES) Technical Analysis at a Glance
The WAVES price had maintained in the past couple of days, where the prices reached the peak and fell massively below its initial levels. However, due to the recent upswing, the prices were able to reach the upper resistance but failed to surpass it. And hence consolidation within the lower levels may continue for some more time before knocking out the bears completely.
|Short-Term (1hr)||The price had rallied notably high earlier and quickly began consolidating, however, the prices could resume with the uptrend soon|
|Mid-Term (4hr)||WAVES prices are currently hovering along the upper resistance despite a minor pullback and hence rising possibilities of a notable upswing soon|
|Long-Term (D)||The price after a pretty long time flipped from the bearish trend and hence the price could maintain the uptrend eliminating all the odds|
Technical Indicators & Pivot Levels
|Technical Indicators||Value(1D / 1M)||Action (1D / 1M)|
|Relative Strength Index(RSI)||52.96 / 48.12||Neutral / Neutral|
|MACD(12,26)||-1.48 / 2.89||Sell / Buy|
|Average Directional Index(ADX)||42.17 / 43.09||Neutral / Neutral|
|Bull-Bear Power||3.56 / -16.57||Buy / Sell|
|Moving Average(MA)-50||INR 936.18||INR 1509.37||INR 543.71|
|Moving Average(MA)-200||INR 1349.59||INR 549.92||INR 135.73|
|Resistance||INR 1094.14||INR 1331.25||INR 2167.38|
|Support||INR 320.94||INR 320.40||INR 320|
|Average True Range(ATR)||1.02||9.97||15.66|
Due to the current market conditions, the WAVES price is somewhat bullish in the hourly time frame, but in the larger time frame, the asset is extremely bearish. Yet some possibilities of an upswing may be expected later this month as RSI is not displaying any bullish or bearish divergence. And Bull-bear power indicates bulls are still well-positioned.
Considering the weekly and monthly charts, the upcoming months may be notably bearish. Yet the asset is highly volatile in both time frames and hence a significant price action may be expected. However, bears may capitulate the rally ahead after the asset is done with a minor upswing at present.
WAVES Price and Technical Analysis for May-July
- The Waves price has undergone a significant rally but towards the south from quite a long time that has drained more than 90% of its value in just a couple of months
- Currently, the prices are hovering at slightly elevated prices than the 18-month lowest levels that it did not visit after a breakout in November 2020
- Despite a minor upward jump yet the asset is still under the bearish control as the prices appear to be primed to retest the lower support before igniting a notable rebound
- With a rebound, the prices may reach the local resistance at somewhere in the mid-June but may get rejected after hitting the next resistance and could end the monthly trade around the initial resistance levels
- July trade is expected to be more fruitful than June as a spike beyond the crucial resistance may range the price close to INR 2000. However, a rejection may drag the price close to INR 1000 by the month-end
- Yet August could ignite a strong recovery phase that may assist the price to achieve INR 1500 initially and try hard to range beyond INR 2200 thereafter.
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