Would I enter this trade? No for few reasons 1. being that there are much better crypto currencies that you could be investing in 2. risk is just not worth it
Will Waves rise over $2?
It is possible given prior extreme volatility we've observed, however it's risky for you to be looking for a fresh entry here.
Downward channel is very strong and unless we see convincing close over it, I do not see any reason to be 'all in'.