Signal price

WAVES/USD prices slide below $3.23 as market conditions turn bearish

Wave price analysis shows a slight downtrend under the current market conditions. The crypto is trading at $3.23 and it is down 7.59% in the last 24 hours at the time of writing. Prices have traded between $3.53 and $3.22 over the past 24 hours. The next few hours could see upward price movement as the bears take a breather, but any bounce will likely be short-lived as the overall trend remains bearish.

The WAVES/USD pair is bearish today as the price hits a low of $3.22 after failing to hold above the resistance level of $3.53. The most recent attempt at a corrective rally was yesterday, but it was oversold, leading to the current decline.

Wave price action on a 1-day price chart: The bears are adamant as they push prices below $3.23

On 1-day time frames, Waves price analysis is bearish today with prices sliding below $3.23. The bears have been in control of the market for 24 hours and are expected to push prices down in the next few hours. The 24-hour market cap for Waves price analysis is currently $354,898,494 and the trading volume is $74,733,985. The bulls could take over the market if prices manage to hold above the resistance level of $3.53. A break above this level could lead to a move towards the $4.00 resistance level. However, any rebound is likely to be short-lived as the overall trend remains bearish.

Source: Trading View

The EMA50 and EMA200 are both about to cross on the 1-day chart, which is a bearish signal. The Relative Strength Index (RSI) is currently at 25.32 and slowly rising indicating that the bears are losing momentum. The Moving Average Convergence Divergence (MACD) histogram is also bearish as it continues to decline.

Wave price action on a 4-hour price chart: Resistance at $3.53 is currently limiting upward momentum

The 4 hour time frame for Waves price analysis shows that the bears have been controlling the market for 4 hours. The price is currently trading below the $3.53 resistance level and is likely to continue lower.

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Source: Trading View

WAVES/USD price seems to be crossing below the Moving Average Convergence Divergence (MACD) histogram line, which is a bearish signal. The 50 EMA is below the 200 EMA, indicating that there is a long-term trend in the downtrend. The Relative Strength Index (RSI) is currently at 25.27 and moving below the 50 level indicating that the market is bearish.

Conclusion of wave price analysis

Wave price analysis for today shows that prices are trading in a downtrend as the market is under pressure. Prices found some support at $3.22; however, the market remains under pressure. The market has been facing some selling pressure in recent hours, with no signs of bullish momentum.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.