WAVES Entering into Bullish Trend

WAVES Entering into Bullish Trend
  • Waves has its own Neutrino (USDN) stablecoin
  • The All-Time low of WAVES has recorded six years ago.
  • WAVES/USDT trading price increased by 110%.

The WAVES team’s ultimate strategy to restore the whole operation of its ecosystem’s DeFi Protocols has caught investor interest in WAVES/USDT. The altcoin again started its roller-coaster ride by 110% higher to $9.63 in the last 24 hours with a trading volume of $3,587,948,553 USD and it has a market cap of $1,030,405,418 USD.

Since May 28, crypto market inflows have steadily increased the total market cap, reaching a high of $1.315 trillion in the early hours of May 31st, showing a 13% increase from the bottom low of 1.137 trillion on May 12.

WAVES Green Signal

Source Trading view

After facing 9 consecutive red candles on its way, In October, the WAVES/ USDT chart depicts a roller coaster ride and experienced a parabolic spike from late February to the end of March, reaching a new All-Time High of $62.36 on April. 

Later, when the USDN (Neutrino) stablecoin was de-pegged from the US dollar, the price of WAVES collapsed. It has just reached a low of $4.18, as a result of the decline the altcoin has lost 93.3% of its value and recorded an 8-week downtrend. But this is not its all-time low of $0.12 which was recorded six years before in 2016. 

Source Trading view

Finally, the WAVES/USDT downtrend entering its new positive trend. The price action of WAVES shows a positive crossover between 200MA and 50MA  (Moving Average) result of this WAVES may enter its “Buy Trend”. Also, the daily RSI indicates has moved back into the “Bullish Zone”.

Waves have its own Neutrino stablecoin, NFT marketplace, decentralized crypto-trading exchange, financial services, and NFT-based gaming platform.

A journalism graduate who is passionate about writing loves to dance and travel currently starts exploring blockchain technology.