Waves Technical Analysis: Winner of the day

2019-01-27T21:20:40.000Z Honest Cash

This weekend the market continues with no signs of recovery in the medium term, with lateral movements throughout the ecosystem. However, some cryptocurrencies have shown signs of recovery in shorts, which allow relative gains for investors with little patience.

One of them is Waves, which according to CoinMarketCap, is quoted at $ 2.83 per unit with a positive growth of 4.52% in the last 24 hours and a stock market capitalization of just over $ 282 million to be placed in the position 22 of the general ranking. It is the most recognized cryptocurrency that had a positive day at the time of writing below three other rare tokens.

According to the 1H chart, the trajectory has been downtrend, having a first wave with a maximum peak reached up to $ 3,17, then falling to support levels of up to $ 2,605 and a rising resurgence up to the current price of $ 2,846 as current spot, with an immediate resistance breakout which is marked at $ 2,937.

The Parabolic SAR indicator shows an upward trajectory, with drawings below the current candlestick chart; suggesting the coin's value is in the bullish region.

The Bollinger Bands have begun to diverge after a short tunnel of convergence, where the upper and lower bands denote the volatility of the present market.

At this time, the inflow of money to the ecosystem is greater than the outflow, with a Chaikin Money Flow indicator graph moving above the zero line, and with the possibility of following a crossing to the north for a bullish market in the coming days.

Regarding the 4H chart, Waves is still struggling to find a week's levels of $ 3.2 per unit.

The Aroon indicator shows a downtrend, with the descending signal line (blue) gaining its counterpart that remains in the background. Even when it is at the top, a slight typical correction of these cases has begun to then have a possible upward rebound again.

The MACD indicator confirms the above, with the mobile flow line traveling parallel to the Signal line in an upward direction.

To finish the Relative Strength Index (RSI) moves in the middle of purchase, symptom of the moment of pressure on the sale of the token.

Indicators including CMF, BB and Parabolic SAR despict the coin's price momentum in the bullish zone while Aaron, MACD RSI notes the coin's valuation in the bear region.

Waves is a blockchain platfform you can use to create your own custom token. If you want to crowdfund a project, build a loyalty rewards program, or create an in-app currency, the Waves Platfform may be worth looking into.

According to their website, you can create your own token in as little as one minute. Waves also includes a decentralized exchange (DEX) in which you can trade your newly created currency in a trading pair with any other Waves token.