WAVES Price Analysis: WAVES on a bearish channel on the daily chart

• WAVES Coin Price on a bearish channel on the daily chart 
• WAVES consolidating between long-term support and $ 8.17

WAVES Coin Price broke out of a crucial long-term support zone at $ 12.00. The token has currently taken support at $ 8.17 and is on a bullish pattern over the last few days. The Relative Strength Index (RSI) is indicating neutrality for the coin. The coin has resistance at $ 12 which was the long-term support zone. The coin has started seeing good volumes after testing the support at $ 8.17.

WAVES Coin Price has support at $ 8.00 and resistance at $ 12.80 on the hourly chart. The coin has been on a bullish momentum over the last few days. The RSI indicator is showing divergence with the coin making higher highs and the RSI indicator is declining on the RSI chart. The coin has used the $ 9.30 zone for support for a while and then resistance for a while.

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Conclusion:

WAVES has been in a bullish zone for the last few days on the hourly chart. Traders keep an eye on the support zone for any directional change and place their trades accordingly.

Support: $ 8.00

Resistance : $ 12.80

DISCLAIMER: The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish any financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.