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Dalmas Ngetich
May 30, 2022
by Dalmas Ngetich

WAVES Technical Analysis: Prices may Retest Q1 2022 Lows

WAVES Technical Analysis

Table of contents

  1. Past Performance of WAVES
  2. WAVES Technical Analysis
  3. What to Expect from WAVES?
WAVES prices are up 28 percent, reversing sharply from 2022 lows as per the WAVESUSDT formation in the daily chart. At this pace, bulls could surge to retest Q1 2022 lows at $12.

Past Performance of WAVES

After a 93 percent dump from April 2022 highs, WAVES crypto prices have found a base in late May 2022 and are pumping. As per the WAVES technical analysis in the daily chart, the coin is up 28 percent in the last 24 hours, outperforming the USDT and BTC.

WAVES Technical Analysis

WAVES Daily Chart for May 30

Prices appear to be recovering after sharp losses in the last two months, according to WAVES technical analysis. At press time, the bullish engulfing bar of May 30 has high trading volumes suggesting interest. Considering the WAVES token candlestick arrangement settings in the daily chart, buyers can load on dips inside the May 30 trade range above $4. More opportunities will be presented if there are confirming gains above the middle BB. From the daily chart, the immediate target for bulls is at $8 or Q1 2022 highs. This level is also the liquidation level that, if buyers close above, would nullify the bear breakout formation of May 11 and 12.

What to Expect from WAVES?

Technically, WAVES buyers are back in the equation. The coin is bouncing higher after dropping over 90 percent from April 2022 highs. Resurgence on May 30 makes for a firm close of the month, propping optimistic bulls.

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WAVES Technical Analysis: Prices may Retest Q1 2022 Lows
Dalmas Ngetich
Dalmas has been passionate about the blockchain and crypto space ever since he’s heard about it. As someone who’s been closely following the trends in the crypto space, Dalmas is excited about what lies ahead in this niche and is all set to explore it. While he’s been advocating crypto adoption for a number of years, he’s himself a HODLer, which makes his voice authoritative and credible.

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