In this Waves technical analysis, we will examine the current price action, trading volume, key levels and indicators for WAVES-USDT. Waves is a blockchain-based platform that enables the creation and exchange of tokenized assets, allowing for new financial instruments and use cases. It utilizes a novel consensus algorithm called Leased Proof of Stake (LPoS) which improves upon traditional proof of stake by incentivizing users to participate in the network’s security. Waves also features a decentralized governance system, allowing holders of its native cryptocurrency, WAVES, to vote on proposals for the development and growth of the platform.
Waves Price Overview:
As of October 02, 2023, Waves is trading at approximately 1.559 USDT. Let’s dive into the detailed price action for WAVES-USDT:
| Metric | Value |
|---|---|
| Open (O) | 1.621 |
| High (H) | 1.628 |
| Low (L) | 1.533 |
| Close (C) | 1.559 |
| Volume (C) | 2,067,423.21 |
- Open (O): The opening price for today’s trading session was approximately 1.621 USDT.
- High (H): Waves reached a daily high of around 1.628 USDT.
- Low (L): The daily low for WAVES-USDT was approximately 1.533 USDT.
- Close (C): At the time of analysis, Waves is trading near its daily close of 1.559 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -3.82% |
| 3D Change (%) | 0.39% |
| 7D Change (%) | 1.63% |
| 30D Change (%) | 5.12% |
| 90D Change (%) | -16.59% |
| YTD Change (%) | 19.19% |
Over the past three days, WAVESUSDT has increased by approximately 0.39%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 1.63%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with WAVESUSDT maintaining an upward trend of approximately 5.12%, despite intermittent fluctuations. Examining the last 90 days, WAVESUSDT has witnessed substantial decrease of approximately -16.59%, reflecting strong long-term confidence. Year-to-date, WAVESUSDT has steadily appreciated by around 19.19%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Waves Live Chart:
You can access a live price chart for WAVES-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.41778.
- Momentum score is 0.05125.
WAVES USDT Technical Analysis
Waves Trading Volume:
The trading volume for Waves (WAVES) over the past 24 hours has been significant, with approximately 2,067,423.21 USDT traded against WAVES. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): WAVES is currently trading above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): Waves is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for WAVES-USDT is currently in the neutral zone, around 47.22714. This suggests that Waves is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Waves (WAVES-USDT) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the neutral RSI and significant trading volume are neutral signals for potential sideways movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
