WAVES Technical Analysis: Price Surges by 24%, Buyers Target $10.5

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WAVES Technical Analysis: Price Surges by 24%, Buyers Target $10.5

WAVES coin is firm at spot rates, adding 24 percent against the USDT. In a revival, buyers are angling at June 2022 highs at $10.5, completing a double bottom formation.

Past Performance of WAVES

WAVES crypto is leading the charge as per the formation in the daily chart. After an extended lull, the explosion of prices on June 21 lifted the coin into the green. The token is now up 24 percent against the greenback, aligning with gains of late May 2022.

WAVES Technical Analysis

 The path of least resistance is northwards as per the candlestick arrangement in the daily chart. With the immediate trend defined, traders may find entries on dips above $5.3. The immediate target lies at June 2022 highs at $10.6. Following the expansion on June 21 with rising trading volumes, there is a W-formation, a double bottom, at $4.2. This level marks the lows of May and June 2022. Any break below $5.3 may force WAVES prices towards June 21 lows at $4.7 with sustained gains back to $4.2.

What to Expect from WAVES?

Buyers are currently in control per WAVES technical analysis in the daily chart. Accordingly, traders can load up with targets at $10.5 in the medium term with every dip. However, if prices recoil from spot rates and fail to confirm gains of June 21, the coin may slump to $4.7 and back to May 2022 lows.


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