Lorenzo Stroe
Independent Analyst
- Waves price is up by almost 350% in the past month despite the selling pressure.
- Several indicators show that Waves is on the verge of a pullback.
Waves has been outperforming the market in the past month growing by almost 350% and establishing a new two-year high at $9.32. The digital asset seems unstoppable but some indicators are showing concerning signs.
Waves price might be poised for a pullback in the short-term
One of the most concerning signs for the bulls is the sell signal presented on the daily and weekly charts by the TD Sequential indicator. This is a major bearish indicator which could mean that Waves price is aiming for a pullback before resuming its strong uptrend.
WAVES/USD daily and weekly charts
It also seems that the trading volume of Waves is peaking again like it happened on November 21 before a significant crash and November 23 which pushed Waves price from $8.32 towards $6 just a few days later.
%20[19.03.20,%2007%20Dec,%202020]-637429612715574330.png)
WAVES Trading Volume
The current rise in trading volume could potentially indicate that another local top is being formed. On the other hand, the current bullish momentum could simply continue pushing Waves to new highs as it faces very little resistance to the upside.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
IRS says crypto staking should be taxed in response to lawsuit
The IRS stated that rewards from cryptocurrency staking are taxable upon receipt, according to a Bloomberg report on Monday, which stated the agency rejected a legal argument that sought to delay taxation until such rewards are sold or exchanged.
Solana dominates Bitcoin, Ethereum in price performance and trading volume: Glassnode
Solana is up 6% on Monday following a Glassnode report indicating that SOL has seen more capital increase than Bitcoin and Ethereum. Despite the large gains suggesting a relatively heated market, SOL could still stretch its growth before establishing a top for the cycle.
Ethereum Price Forecast: ETH risks a decline to $3,000 as investors realize increased profits and losses
Ethereum is up 4% on Monday despite increased selling pressure across long-term and short-term holders in the past two days. If whales fail to maintain their recent buy-the-dip attitude, ETH risks a decline below $3,000.
Crypto Today: BTC hits new Trump-era low as Chainlink, HBAR and AAVE lead market recovery
The global cryptocurrency market cap shrank by $500 billion after the Federal Reserve's hawkish statements on December 17. Amid the market crash, Bitcoin price declined 7.2% last week, recording its first weekly timeframe loss since Donald Trump’s re-election.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.