The crypto market sentiment has been on the rise since the start of August, but as the month draws to a close, investors are more and more cautious and wonder what will happen in Q3.
Waves (WAVES) has weakened more than 20% since August 05, falling from a high of $6.66 to a low of $4.60. The current Waves (WAVES) price stands at $5.15, which is more than 90% off from its 2022 highs registered in March. But where will Waves (WAVES) price go next, and what can we expect from Q3 2022?
Today, Crypto Lists will discuss WAVES price estimates from a technical and fundamental analysis perspective. Please note that there are also many other factors to consider when entering a position, such as your time horizon, willingness to risk and how much margin you got if trading with leverage.
The crypto market sentiment plunged to a monthly low
Go directly to
Waves is an all-encompassing gateway blockchain platform with a goal to make open finance attractive for regular users on a day-to-day basis. Waves allows for the creation and trade of crypto tokens without the need for extensive smart contract programming. Rather, tokens can be created and managed via scripts that run in user accounts on the Waves blockchain.
The WAVES cryptocurrency plays an important role in the Waves network, and it can be used to create custom tokens and to pay for transaction fees. The total supply of WAVES tokens is limited to 100 million WAVES, and it is also important to mention that ownership of the WAVES determines who earns a share of fees paid for transactions.
Supply: 108,367,666 / 108,367,666
Release date: April 30, 2016
Description: Keen on learning more about surfers favourite coin? Discover Waves today and see live prices here.
Risk warning: Trading, buying or selling crypto currencies is extremely risky and not for everyone. Do not risk money that you could not afford to loose.
Waves (WAVES) has weakened more than 20% since August 05, and the risk of further decline for WAVES is not over. Federal Reserve Bank of St. Louis President James Bullard said last week that he is open to the idea of another outsized interest-rate increase at the central bank’s meeting in September, which negatively influenced stocks and cryptocurrencies. Investors are worried that an aggressive interest rate could trigger another sell-off, and Waves and many other cryptocurrencies are likely to experience more volatility ahead of U.S. Federal Reserve Chairman Jerome Powell’s speech at a Friday symposium in Jackson Hole, Wyoming.
Since mid-November, the cryptocurrency market has lost more than half its value, and all eyes are now watching to see whether Bitcoin will be able to hold above the important support level that stands at $20,000. American investor Jeffrey Gundlach said that he would not be surprised if Bitcoin were to plunge to the $10,000 level, and it is very likely that the crypto market will lose more value in the coming days.
According to the latest survey, the crypto market sentiment plunged to a monthly low, which puts it dangerously close to falling back into the extreme fear territory. Now, the reason that market sentiment is so important to gauge is it can tell exactly how investors are feeling towards the market as a whole.
Technical analysis for Waves (WAVES)
After hitting recent highs above $6.6 on August 15, Waves (WAVES) has weakened more than 20%. The price has now stabilized above the support at $5, but a break below this support would indicate that WAVES would probably test the price level at $4.5. On this chart (the period from March 2022), I marked the important support and resistance levels that can help traders to understand where the price could move. According to technical analysis, WAVES remains in the “bearish phase,” but if the price advances above $8, it could be a sign of the trend reversal, and the next target could be located around $10. The important support level is $4, and if the price breaks this level, it would be a strong “SELL” signal, and we have the open way to $3.5.
What speaks for the rise in the Waves (WAVES) price
The amount of WAVES traded over the last several days saw a decrease, but if the price advances above the resistance that stands at $8, the next target could be located at around $10. Traders should also consider that the price of WAVES is correlated with Bitcoin, and if the price of Bitcoin jumps above $25000, we can see WAVES at a higher price level than the current price.
What indicates the downfall for Waves (WAVES)
Waves (WAVES) has weakened more than 20% since August 05, and the risk of further decline for WAVES is not over. According to the latest survey, the crypto market sentiment plunged to a monthly low, which puts it dangerously close to falling back into the extreme fear territory. The current support level for WAVES stands at $5; if the price breaks this level, it would be a “SELL” signal, and we have the open way to $4.5. If the price drops below $4, which represents very strong support, the next target could be located around $3.5 or even below.
Waves (WAVES) price expectations from analysts and experts
With inflation at 41-year highs and more aggressive monetary tightening policies from global central banks on the horizon, expert expectations are that risk-on assets like stocks and cryptocurrencies may continue extending losses. According to the latest survey, the crypto market sentiment plunged to a monthly low, which puts it dangerously close to falling back into the extreme fear territory. Jeong Seok-moon, the head of South Korean exchange Korbit, said that crypto winter could end before the end of 2022, but he also thinks that the U.S. Federal Reserve’s attempts to fight high inflation would continue to influence crypto markets in the meantime. American investor Jeffrey Gundlach said that he would not be surprised if Bitcoin were to plunge to the $10,000 level, and it is very likely that the crypto market will lose more value in the coming days. Bearish traders who are already holding a position in Waves (WAVES) can feel confident the downtrend will continue unless the cryptocurrency makes a higher high. The price of WAVES is also in correlation with Bitcoin, and if the price of Bitcoin drops below $20000 support, we can see new lows for WAVES.
USDN, the Waves Backed Stablecoin Breaks Peg & Come Back
Trending coins - Waves, ZIL & TITAN
