Today’s analysis – WAVESUSDT- trading with a higher low construction, a break will be imminent,
Points to consider, - Price Action Equilibrium - Dynamic S/R Support (200 MA Confluence) - Supply Zone Resistance - Declining Volume - Oscillators Neutral
WAVESUSDT’s immediate price action is bullish with consecutive higher lows. The current equilibrium is forming at its apex where a break will be imminent.
The Dynamic S/R is in confluence with the 200 NA as projected support, maintaining these as such will be indicative of strength.
The Supply Zone is crucial resistance that needs to be breached; closing above with consecutive candles will be another indication of strength.
Immediate volume profile is declining considerably; this is a pre-sign of a volatility expansion being imminent.
Both oscillators are currently trading in their respective neutral zones; a break in price will cause a momentum shift in both the RSI and Stochastics.
Overall, in my opinion, WAVESUSDT is a valid long if bullish signs persist; price action is to be used upon discretion/ management.
Hope this analysis helps!
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