- All the major crypto currencies are advancing in this trading week
The waves continue to be traded in a “bull market” and there is no danger of a trend reversal for the time being
If the price jumps above the $8 resistance again, the next target could be around $8.5.
All the major crypto currencies are on the rise this trading week, and this situation also supports the price of Waves (WAVES). Bitcoin has stabilized above the $19000 support level, suggesting that the price could reach the $20000 resistance level in December of this year.
Basic Analysis: There is still a degree of uncertainty regarding this project
Waves is an all-encompassing gateway blockchain platform, which was launched in 2016 by Ukrainian-born scientist Alexander Ivanov. This platform provides a developer-friendly infrastructure as a test bed for innovations, allowing you to create a dApp – an application that is stored and executed on the block chain network.
Waves’ native token is WAVES, and this is one of the first offerings from the crypto money industry (ICO). The Waves platform offers a total of 103 million tokens that are tradable on many exchanges.
Waves has many advantages for business customers who want to create new services, and this block chain platform is secure because it has more than 300 nodes around the world. It is also important to note that Waves allows trading any brand pair without having to conduct a transaction through an intermediate currency, and it takes a few milliseconds to approve the transaction.
With this platform, customers can create custom crypto-tokens and applications without extensive intelligent contract programming. Anyone can join the Waves network, and this is one of the crypto-currencies that you should not ignore.
There is still a degree of uncertainty surrounding this project, and if you decide to buy Waves (WAVES), I recommend that you always use a “stop loss” order.
In an interview, the CEO of Waves, Alexander Ivanov, said that the growing popularity of decentralized finance (DeFi) could harm the market for crypto-electronic currencies. “DeFi is the future, but it will now come through a bubble as part of the cycle, which may harm its long-term development,” Ivanov said.
Technical analysis: waves continue to trade in a “bull market
This crypto has gone from $2.10 to $8 in less than two months, and the current price is about $7.30.
Data source: tradingview.com
On this chart I have marked significant resistances and support levels. The critical support levels are $7 and $6; $8 and $9 represent the resistance levels.
If the price jumps above the $8 resistance again, it would be a signal to buy waves (WAVES) and the next target could be around $8.5. If the price falls below the $6 support on the other side, this would be a clear “sell” signal and we have the open path to $5.
All major crypto currencies are advancing in this trading week, and this situation also supports the price of Waves (WAVES). Waves is one of the crypto-currencies that you should not ignore, but there is still a certain amount of uncertainty regarding this project. Traders should always use “Stop Loss” and “Take Profit” orders when opening their positions, as the price of this coin could move very quickly. If the price jumps back above the $8 resistance, this would be a signal to buy Waves (WAVES), but if the price falls below the $6 support, this would be a clear “sell” signal.