In Waves (WAVES) Technical Analysis 2021, we use past statistics, price analysis, RSI, RVOL, and much other information about WAVES to analyze the future movement of the cryptocurrency.
Waves is an open blockchain protocol and toolset for developing Web 3.0 applications and decentralized solutions to improve the security, reliability, and speed of IT systems. This allows anyone to create their own applications, which contributes to the massive adoption of blockchain.
Waves (WAVES) Current Market Status
According to Coingecko, the WAVES price is trading at $24.22 with a 24-hour trading volume of $190,207,513, at the time of writing. However, WAVES has increased by 5.1% in the last 24 hours.
In addition, WAVES has a circulating supply of 100,000,000 WAVES. Currently, WAVES trades in Binance, Tokocrypto, OKEx, FTX, and Huobi Global.
Waves (WAVES) Technical Analysis 2021
WAVES holds the 59th position on Coingecko right now. The recent development and upgrades might push WAVES to reach new heights. Now, let’s deep dive into the WAVES technical analysis 2021. The daily time frame chart of WAVES is shown below.
The Horizontal channel trend has the appearance of a rectangle pattern. It consists of at least four contact points. This is because it needs at least two lows to connect, as well as two highs. Buying and selling pressure is equal and the prevailing direction of price action is sideways.
WAVES trades in a range of $23. If the price breaks the trend line then it falls to the support level of $8.78. Or else it will reach the resistance level at $40.71.
Waves (WAVES) RSI
The below chart shows the relative strength index (RSI) of WAVES.
As shown in the above chart, RSI remains at 67.94. This shows that WAVES’s price is in a nearly overbought state. This shows that traders have to trade carefully, however, major price reversal could take place.
Waves (WAVES) RVOL
The below chart shows the Relative Volume of WAVES. RVOL is an indicator that represents to traders how the current trading volume has changed over a while compared to the past trading volume.
From the above chart, the RVOL of WAVES lies below the cutoff line which represents the weaker participants in the current trend.
Waves (WAVES) Moving Average
WAVES’s Moving Average (MA) is shown in the chart below. Moving Average is a part of technical analysis that supports traders to find trends.
Currently, WAVES is in a bullish state. However, the WAVES price is above 50 MA (short-term), and it has a high chance of moving higher. Furthermore, WAVES’s price is above 50 MA and 200 MA (long-term), so it is completely in a bullish state. Moreover, there is a high possibility of a Trend reversal at any time.
Waves (WAVES) Price Comparison With Bitcoin
The below chart shows the price comparison between WAVES and BTC.
From the chart, we can identify the trend of the BTC and WAVES is moving at the same level as the trend. This indicates when the price of BTC increases or decreases, the price of WAVES also increases or decreases respectively.
Conclusion
With the ongoing developments and upgrades that are taking place within the WAVES platform. Waves has a great future ahead in this crypto market. However, WAVES can reach new heights.
Bullish WAVES price prediction 2021 is $28.83 . However, as mentioned above, it may reach great heights, however reach $40.7, if investors have decided that WAVES is a good investment in 2021.
FAQ
WAVES is a multi-purpose blockchain platform that supports a variety of use cases, including decentralized applications (DApps) and smart contracts.
WAVES is listed on many cryptocurrency exchanges that include Binance, Tokocrypto, OKEx, FTX, and Huobi Global.
The ongoing developments and upgrades inside the WAVES platform have a high possibility of reaching its ATH soon.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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