Waves price analysis is somewhat bearish today, in line with the overall sentiment of the cryptocurrency market. The price has been flat for the past few days, trading in the $3.73 to he $4.11 range. The wave is expected to continue moving in this range for the next 24 hours.
The crypto heat map above provides a complete picture of the market.we can see it ethereum Bitcoin fell 0.62% while the price of Bitcoin fell 0.76%. As usual, the rest of the altcoins will follow the same course.
Well, with the daily Waves price analysis chart, you can easily see what the market has been doing for the past few days. It fell sharply on the 18th.th Waves has since been largely laterally integrated.
We haven’t seen another rapid price action yet. But when can we expect it, what’s the real question? For now, RSI is at 38 and MACD on bullish momentum The market looks very stable as it shows a slight improvement. Waves may stay within the range for another 24 hours.
Waves 24 hour price movement
On a much shorter timeframe, Waves’ price analysis is still very bearish, but we can see that bullish momentum is slowly building. After a bearish day and a small dip, Waves has recovered once again and is struggling to retest the resistance near $3.88.
Overall, prices in Wave Price Analysis have fallen by 0.80% over the last 24 hours. The 24-hour trading volume also fell by about 12%, and the volume-to-market capitalization ratio he remains at 0.1216.
The MACD on the hourly chart shows that the histogram is green. This suggests that bullish momentum is building. Therefore, in the short term, the price could rise in the next few hours.
4 Hour Waves Price Analysis: Is Waves Ready to Retest the $3.88 Resistance?
The longer timeframe on the 4-hour chart also shows that Waves is trading between $3.8 and $3.65 after the significant drop that started on the 27th.th of September. Outside this range, we can expect Waves to face significant resistance at $4.0 and strong support at $3.65.
Considering the overall negative sentiment in the market, it is very likely that Waves will break below $3.65 after retesting. But for now, the market looks balanced. This means that the uncertainty is high.
Wave Price Analysis: Conclusion
For now, Waves continues to trade within a range on both the 1-hour and 4-hour charts. A large resistance is set at $4.0, but the $3.88 level needs to be breached for the wave to break out of the current range. Over the next 24 hours, the wave may continue to consolidate laterally on longer timeframes.Consider reading about our tops while waves are laterally integrated Proof of Stake Coin.
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