WAVES has seen a great move upwards within its downward channel last few days. The move was a very healthy, steady move without a big pump/dump.
This was after they announced their partnership with Deloitte to regulate ICOs. Regulation will become the key towards successful projects. So this is fundamentally a great and unique feat. I believe there is much more fundamental news to come this month.
Technically WAVES broke out of its long term downchannel. The RSI crossed the trendline as well. The MACD has also crossed and is green at this point. We are close to being overbought, so price might move a bit sideways along the trendline coming days before we see a continuation of the upwards move. The volume has increased tremendously last few weeks, so any good news might ignite a nice spike upwards.
First two targets are on the chart.
This was after they announced their partnership with Deloitte to regulate ICOs. Regulation will become the key towards successful projects. So this is fundamentally a great and unique feat. I believe there is much more fundamental news to come this month.
Technically WAVES broke out of its long term downchannel. The RSI crossed the trendline as well. The MACD has also crossed and is green at this point. We are close to being overbought, so price might move a bit sideways along the trendline coming days before we see a continuation of the upwards move. The volume has increased tremendously last few weeks, so any good news might ignite a nice spike upwards.
First two targets are on the chart.
Note
WAVES is crawling along the major yellow trendline as expected. But it is moving in a bullish pennant and the (stoch)RSI has cooled down, so there is room again to go up. Note
Waves retraced to within the longterm channel, but broke out again.Note
Looking for a first target in the blue box, after which it might retest the trendline again in a sharp correction before fully going up. Still lots of news coming for waves.
Note
Looking back at this idea. The first target was reached a while go already. Retraced back to the trendline and seems to be moving for a next leg up.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.