This article was originally published here.
- The WAVES/USD market may face resistance at $2 mark.
- The WAVES/USD market bulls have been gathering momentum gradually.
WAVES/USD Medium-term Trend: Ranging
- Resistance levels: $2.20, $2.40, $2.60
- Support levels: $1.60, $1.40, $1.20
Using price range difference of $ 0.20 to determine the WAVES/USD market valuation trend has been in a ranging outlook in the medium-term run. Meanwhile, a lot of trading operations involving downs and ups have been taking place in the current range zones seen around $2 and $1.80 market levels.
The trend-lines of the Bollinger Bands are found around the range zones as the 50-day SMA has slanting bent downwards into it across the Bollinger Upper Band. The Stochastic Oscillators have crossed the hairs below range 80 pointing south-east.
There now seems that a resistance point of the WAVES/USD market to the north has been located at $2 mark. The bears are expected to mostly gain the trade advantage at that while the bulls lack the momentum to break out past and keep above it.
WAVES/USD Short-term Trend: Ranging
As at the time of writing today, the movements of WAVES/USD market in the short-term run have been a little bit more of featuring higher lows than higher highs in its current range zones. The lower range mark is located at $1.90 point near over the conjoint trend-lines of the 50-day SMA indicator and the Bollinger Lower Band.
The Stochastic Oscillators have dipped into the oversold zone. And, they look like crossing the hairs within it.
It has been indicated that the bears’ forces are gradually fading off in this crypto-market. However, the bulls may as well be making a slow appearance between the $1.90 and $1.80 price levels.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.