WAVES - WAVES/USDT - Daily - Technical analysis published on 05/24/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Slightly bearish
Technical indicators
89%
0%
11%
My opinion
Bullish above 1.93 USDT
My targets
2.23 USDT (+12.21%)
2.29 USDT (+15.08%)
My analysis
The current short-term bullish trend is expected to quickly reset the neutral or bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for WAVES - WAVES/USDT as long as the price remains well above 1.93 USDT. The buyers' bullish objective is set at 2.23 USDT. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 2.29 USDT. If there is any crossing, the next objective would be the resistance located at 3.10 USDT. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 2.23 USDT. On this resistance, against the trend traders who would like to go short on WAVES - WAVES/USDT with a bearish signal from their trading strategy, should not hesitate to act.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
3.2
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This analysis was given by usmanrafiq. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
WAVES - WAVES/USDT rating 1.99 USDT. On the day, this instrument gained +3.11% and was between 1.92 USDT and 2.14 USDT. This implies that the price is at +3.65% from its lowest and at -7.01% from its highest.1.92
2.14
1.99
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by WAVES - WAVES/USDT:
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Abnormal volumes on WAVES - WAVES/USDT were detected by the Central Volumes scanner:
Abnormal volumes
Timeframe : 5 days
Technical
Technical analysis of WAVES - WAVES/USDT in Daily shows an overall slightly bearish trend. 57.14% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages could quickly lead to a reversal of the trend. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : Daily
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : Daily
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : Daily
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
White gravestone / inverted hammer
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.31 | 1.55 | 1.93 | 1.99 | 2.29 | 3.10 | 3.56 |
| Change (%) | -34.17% | -22.11% | -3.02% | - | +15.08% | +55.78% | +78.89% |
| Change | -0.68 | -0.44 | -0.06 | - | +0.30 | +1.11 | +1.57 |
| Level | Minor | Major | Intermediate | - | Intermediate | Intermediate | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.43 | 1.54 | 1.73 | 1.84 | 2.03 | 2.14 | 2.33 |
| Camarilla | 1.85 | 1.88 | 1.90 | 1.93 | 1.96 | 1.99 | 2.01 |
| Woodie | 1.48 | 1.56 | 1.78 | 1.86 | 2.08 | 2.16 | 2.38 |
| Fibonacci | 1.54 | 1.65 | 1.72 | 1.84 | 1.95 | 2.02 | 2.14 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.36 | 1.43 | 1.55 | 1.62 | 1.74 | 1.81 | 1.93 |
| Camarilla | 1.62 | 1.64 | 1.65 | 1.67 | 1.69 | 1.71 | 1.72 |
| Woodie | 1.39 | 1.44 | 1.58 | 1.63 | 1.77 | 1.82 | 1.96 |
| Fibonacci | 1.43 | 1.50 | 1.55 | 1.62 | 1.69 | 1.74 | 1.81 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.11 | 1.47 | 1.67 | 2.03 | 2.23 | 2.59 | 2.79 |
| Camarilla | 1.73 | 1.78 | 1.83 | 1.88 | 1.93 | 1.98 | 2.03 |
| Woodie | 1.04 | 1.43 | 1.60 | 1.99 | 2.16 | 2.55 | 2.72 |
| Fibonacci | 1.47 | 1.68 | 1.81 | 2.03 | 2.24 | 2.37 | 2.59 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 64.91 | |
| MACD (12,26,9): | -0.0200 | |
| Directional Movement: | 23.17 | |
| AROON (14): | 85.71 | |
| DEMA (21): | 1.68 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.58 | |
| Elder Ray (13): | 0.30 | |
| Super Trend (3,10): | 1.69 | |
| Zig ZAG (10): | 1.98 | |
| VORTEX (21): | 1.0400 | |
| Stochastique (14,3,5): | 84.86 | |
| TEMA (21): | 1.74 | |
| Williams %R (14): | -24.31 | |
| Chande Momentum Oscillator (20): | 0.41 | |
| Repulse (5,40,3): | 12.3600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.6400 | |
| Courbe Coppock: | 11.03 |
| MA7: | 1.74 | |
| MA20: | 1.68 | |
| MA50: | 1.90 | |
| MA100: | 2.11 | |
| MAexp7: | 1.78 | |
| MAexp20: | 1.74 | |
| MAexp50: | 1.86 | |
| MAexp100: | 2.03 | |
| Price / MA7: | +14.37% | |
| Price / MA20: | +18.45% | |
| Price / MA50: | +4.74% | |
| Price / MA100: | -5.69% | |
| Price / MAexp7: | +11.80% | |
| Price / MAexp20: | +14.37% | |
| Price / MAexp50: | +6.99% | |
| Price / MAexp100: | -1.97% |
Quotes :
-
Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
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