After hitting a new yearly high of $9.45 on the 7th of December, WAVES has been falling. According to a Beincrypto report, Waves is at risk of further decline after recording gains over the past two months. Notably, the Waves (WAVES) price has been continuously increasing since the beginning of October. Before now, Waves briefly reached a new yearly high on the 23rd of November.
As noted by Beincrypto, WAVES has been trading inside a parallel ascending channel since the 26th of November. The report said that there was a deviation when WAVES reached a new high on the 7th of December. WAVES is now trading in the middle of the channel.
WAVES is predicted to drop towards the $6.10 to $5.77 range. At press time, WAVES is down 6.22% to $8.14 and stands at a market value of nearly $850 million.
In a recent report, Forexcrunch said that WAVES had climbed almost 350% over the past months. The report also believes that WAVES is close to a fall, pointing to alarming bearish signs as seen on daily and weekly charts by TD Sequential indicator. Although its immediate trajectory looks bearish, Waves’ trading volume has been on the rise.
