Good Morning, Traders!
WAVES has just recently broke the descending triangle it was in since the start of the year. This descending triangle was met with the 2/1 Gann fan line that was recently crossed and a strong support level of 47806. Because of this break, it is predicted to continue going bullish.
Looking at the EMAs, it can be seen that the EMA 20 has just recently started to some back up slowly toward the EMA 200. If it reaches beyond the EMA 200 it can be seen as a great buy signal.
The RSI indicator reached a new high for this year at 63.6 just yesterday showing that traders were close to putting the coin into an overbought stage but it seems to have corrected itself today.
Important Resistance Levels: 67610, 76770
Important Support levels: 47806
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.
Written by:
Hammad Fazlani
Research Analyst
WAVES has just recently broke the descending triangle it was in since the start of the year. This descending triangle was met with the 2/1 Gann fan line that was recently crossed and a strong support level of 47806. Because of this break, it is predicted to continue going bullish.
Looking at the EMAs, it can be seen that the EMA 20 has just recently started to some back up slowly toward the EMA 200. If it reaches beyond the EMA 200 it can be seen as a great buy signal.
The RSI indicator reached a new high for this year at 63.6 just yesterday showing that traders were close to putting the coin into an overbought stage but it seems to have corrected itself today.
Important Resistance Levels: 67610, 76770
Important Support levels: 47806
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.
Written by:
Hammad Fazlani
Research Analyst