Plunges 13% Below 50-day EMA; Is $20.0 Possible?


 WAVES price downtrend shows an increase in the selling pressure that has pushed it past the immediate support level. The current movement could lead to a further crash if WAVES  buyers sliced the vital support levels.

  • WAVES price edges lower with significant losses on Friday.
  • The price trades near critical support around $25.0, more downside if the level is broken.
  • WAVES price lost nearly 45% since the beginning of the week.

WAVES price looks for downside continuation

Source: Trading View

WAVES price is currently hovering at $26.0 within a previous demand zone. The token dropped 45% since the beginning of the week. Now, if the price breaks the reliable support level it would trigger a fresh round of selling in the asset. In addition to that, the slippage of the 50-day EMA (Exponential Moving Average) at $29.46 hints at the brewing bearish sentiment further.

Since this area constitutes a demand zone and a support level, a breakdown of the former will indicate a rise in selling pressure and could trigger a further crash.

Investors would collect the liquidity near the demand zone extending from $20.0 to $17.06.

On the flip side, if the WAVES buyers bind together then the price would have a good chance of recovery above $30.0. This would alleviate the prevailing bearish outlook. A consolidation above the session high could be key toward another run-up to $40.0. This would be a 53% price appreciation from the current level of $26.0.

In a highly optimistic scenario, WAVES  price could extend the gains and retest the psychological $50.0 level.

Technical indicators:

MACD: The Moving Average Convergence Divergence slipped sharply below the mid-line with heavy selling pressure.

RSI: The daily Relative Strength Index approached the oversold zone. It reads at 39, still far from the extreme condition.

 

Disclaimer

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

About Author



Source link

Related articles

Apple ends assist for Clips video-editing app

Apple lastly determined to drag the plug although, eradicating Clips from the App Retailer. The corporate additionally up to date its assist web page to state clearly that “the Clips app is not...

Uber Inventory: Mobility Conglomerate Valued Cheaply (NYSE:UBER)

This text was written byComply withWith a decade at a Large 4 audit agency specializing within the banking, mining, and vitality sectors, I deliver a robust basis in finance and technique. Presently, I...

Introduction — Heiken Ashi Professional (Technique #2: Heiken Ashi + HULL) – Buying and selling Methods – 11 October 2025

I’m excited to introduce Heiken Ashi Professional, an indicator designed to ship clear buying and selling alerts, clean worth movement, and noise-free charts....

International LNG provide surge will drive lasting demand development, says ADNOC Fuel CEO

(Bloomberg) – A looming surge in liquefied pure fuel provide by means of the top of the last decade is poised to create demand that gained’t go away, mentioned an ADNOC Fuel govt. Costs...
spot_img

Latest articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

WP2Social Auto Publish Powered By : XYZScripts.com