A powerful wave of growth in the WAVES market in May 2021 provoked the beginning of a correction and not the best times for the project. Having raised the price by 230% in 2 weeks, buyers hit the mark of $41.86. However, in the same short period of time, the price of WAVESUSDT fell to a liquid range of $11.6-12.5 Since February 2021, the range of $11.6-12.5 has played a key role in the WAVES market. It was after the price fixing above this range in April that buyers were able to build a bright and final growth impulse. Now, it is this range that restrains the aggression of sellers for 2 months. Therefore, the chances for the formation of a new wave of growth in the near future remain.
If we consider the situation on a smaller timeframe, we see a clear consolidation range, which is built on the lows and highs of the daily candle from May 23: We have already mentioned the lower limit of this consolidation above. Upper liquidity zone - $17.8-18.8. Buyers have already failed to go beyond this range 3 times.
Now the chart shows that a new local attack of buyers is on the verge of collapse. Having touched the range of $17.8-18.6 on June 30, buyers intensified sales in the WAVES market. This is also noticeable in terms of trading volumes. Although the local trendline is still under the control of buyers, the main interest in the WAVES coin is in the range of $11.6-12.5. Therefore, it is this range that we recommend for buying.
Taking into account the fact that the price of WAVESUSD stopped above the range of $11.6-12.5, we regard this consolidation as an accumulation of positions for a new wave of growth. In this case, the first target of the new growth wave is in the range of $23.2-24.5. In this range, it will become clear or wait for the WAVES market for another wave of decline, all the worst is over.
The WAVESBTC chart also adds something positive: The growth trend that we see on the chart since 2019 has recently started to accelerate. The fall in May 2021 looks like a correction so far. The price is consolidating above the range of 0.0003374-0.0003785. Therefore, there is still a chance of continuation of this trend, as long as the price is above this range.
However, for a positive scenario, a positive dynamics of the BTC price movement is required. For what we think about the bitcoin market, see the previous idea: ________________________________________ We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements. Subscribe to us and get daily concise analytics!
Always enjoy your charts, I am long on WAVES USDT 🆗🌊
obsessedAuthor25807
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two screenshots are about EOS, but the topic was WAVES..
P_S_trade
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@obsessedAuthor25807, You are the first to notice this error. A very interesting experiment came out. People do not read the content and do not get to the bottom of it. This is very sad. Thank you for your comment
obsessedAuthor25807
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Thanks for the edits. Keep up with the hard work :)