- WAVES/USD trade has been moving in a consolidation manner to the south.
- Placing or joining the WAVES/USD market now seems to call for an indecision trading psyche.
WAVES/USD Medium-term Trend: Bearish
- Distribution territories: $2.80, $3, $3.20
- Accumulation territories: $2, $1.80, $1.60
Waves price valuation hasn’t been able to come out of the slight selling pressure been exerted on it by the US dollar. As at now, the market movements to the south have been slowing down around the Bollinger Lower Band’s trend-line.
The 50-day SMA is located over the Bollinger Middle Band with a small space between them. The Stochastic Oscillators are now consolidating around range 20 to indicate that the downward market movement seems not to have been exhausted fully.
The cryptocurrency may soon begin a pull-up moving style to find a price point around the Bollinger Middle Band and the 50-day SMA that could suit the bears’ entry once again.
WAVES/USD Short-term Trend: Ranging
In the short-term run of the WAVES/USD market, price line has been dominated by a different number of lower lows than lower highs. The reason for that is justifiable by the fact that most of the crypto’s trading operations have been carried out below the trend-line of the 50-day SMA indicator.
The Bollinger Bands are as well flatly trending toward the east direction. The Stochastic Oscillators now attempting to crosshairs at range 40.
The market may continue to rise and fall in a range moving manner as long as the 50-day SMA is located over the market trading area. However, a break out of the SMA indicator could be an important notification that the bears would be losing out in energy in near time.
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[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.