Waves crypto is surging. In the past 48 hours, the cryptocurrency has gone up by 110 per cent. The prices also look likely to continue growing, with today’s trading session already up by 14 per cent.
Waves crypto is down by 30 per cent this month. Like other cryptocurrencies, the recent crash resulted in a drastic drop in the price of waves. At some point during the month, the prices were down by 67 per cent from the monthly opening price.
The May price drop was also an extension of months of high volatility trading. In April, for instance, the prices dropped by 76 per cent despite a 234 per cent price gain in the previous month. Looking at the year to date data, Waves crypto is also down by 39 per cent. Although significantly better than many cryptocurrencies that have lost over 70 per cent of their value, 39 per cent indicates a strong bearish trend Waves has been in.
Today’s trading session is up by 14 per cent. The Wave crypto price gains extend yesterday’s price gain of over 70 per cent. The current price gain comes after the prices hit the $4.26 support level. The price level had not been hit since November 15, 2020.
Looking at the chart below, it is likely that the current price gain will continue in the coming session. Therefore, my Waves crypto price prediction shows a high likelihood of the prices trading above the $12 price level. It is also likely that if there is enough volatility, we will see the prices trading above the $15 psychological level. The current price reversal may also hit the $17 resistance level.
However, if the prices close below today’s opening price of $7.6, then my trade analysis will be invalidated. It will also mean a bearish trend may start if the prices reverse and the trading session closes with a price loss.
This post was last modified on %s = human-readable time difference 16:02