WAVES 12h
Data from Cryptovizor
TREND 🟢🔴🔴🔴🟢 MA 🟡 RSI 🟡 28.05.2023
Volume 1D 4.09 M CD Week -2.02 M
Market Cap: $2.8B #WAVES #cryptocurrency
Last week's analysis did not pan out as expected. The liquidity capture from above did not work (the low was not updated) and this gave reason to assume further sideways movement, but a sudden upward shot was not anticipated. As a result, we saw the first purchases with visible volume - the bar of unsuccessful ZL now acts as a support level.
Despite the first successful attempts of the buyer, the downward trend is in priority. The buyer managed to update the local high and to change the trend he should not let the low update + make a confident over-high, which in my opinion is less likely at the moment. The price formed another liquidity capture from above + quite confident upthrust. A significant volume passed through the highs. To confirm, the seller should go for a low update.
On the clusters, we see a predominance of sales. The cumulative delta is also for short. At the moment, the price after the impulse up quickly fell to the local support level, formed by the volume bar of the upward breakout in the MA50 area and we see a weak renewal of purchases. I don't think the buyer has enough strength for an over-high.
Conclusion: For me, the short scenario is in priority until the buyer confirms his intentions (decent volumes from below + no low update + over-high).
Latest news: Waves has recently partnered with Ontology to expand its DeFi capabilities. This partnership is expected to bring new opportunities for users and further development for both platforms. #DeFi #Blockchain
Remember, always do your own research before investing. #DYOR
Author: jpigeon84 #Analytics #trading