$WAVES way to $10 and beyond
WAVES/USDT
4H
WAVES has been showing tremendous strength lately on lower timeframes. It has been moving with a consistent higher low and especially holding the major key-area of support, which is vital for the continuation of WAVES. Currently, it is approaching a key-area of resistance, which can be seen as a range high. The MKAST Algorithm provides support with a bullish condition, such as the MKAST Index, which is continuously making higher lows and giving WAVES the strength that it needs to break the key-area of resistance.
WAVES/USDT
1D
WAVES' strength on the lower timeframes can also be seen on the higher timeframes, which are just showing bullishness all over the place. The current HTF structure for WAVES looks like an ascending triangle and is leading up to a possible breakout. The higher lows and holding the mentioned key-area of support are seen here just as well, and this goes into a combination of the MKATS Algorithm, which is showing a bullish condition. The MKAST LenLen Ribbon provides moving support for the price, which could any time decouple from the ribbon and start a strong move to the upside. The MKAST Index shows 8/15 points, which is considerably low for the structure WAVES is in and leaves much room for growth, especially for the breakout, which seems imminent.
All in all, there is excellent potential for WAVES if it breaks out and turns the mentioned key-area of resistance into support. Even a price discovery is not out of the books, should this break out anytime soon.
Mkast
CTSI breakout-retest of key-area // Continuation soon?$CTSI has been moving quite a lot lately and has been making strong moves in the market.
It started with a simple higher timeframe falling wedge, which we once mentioned a few weeks ago. It started breaking out and moving to the upside quickly. It is most important to state that this move led the market and not just caused by the upwards moving market. This clearly indicates a strong potential base of buyers and investors interested in this asset's low prices.
After breaking above the key-area of resistance, it went for a small consolidation period and made its final push to the next key-level above, which was the final stop for this successful swing.
Currently, CTSI has retraced back into the broken key-area of resistance and is consolidating there. Should a strong move to the upside happen soon, it will take a successful S/R flip, enabling the next higher swing for it.
Looking at technical indicators such as the MKAST Algorithm, one can clearly identify a bearish condition, which has been going on for quite a while now. It is fully understandable since there were no strong breakouts or impulsive moves to the upside after the rejection. Nevertheless, it could be switching to a bullish condition very soon again.
The MKAST Index is surprisingly low and at 0/15 points, which is marking a clearly oversold condition. Such a strong indication of the Index at a key-area, which is about to be turned into support, is absolutely the best scenario this asset could have. The downside seems very limited, and the upside practically unlimited.
A D1 close below 0.03550 would invalidate the bullish bias.
GNT re-testing support GNT/USDT
Golem has been suffering from market conditions lately as well. It has been moving slowly and is currently breaking down into the key-area of support, the “last hope” for GNT. Should this support break and not hold the price stable or even show a minor reaction, there might be many more downsides for GNT.
Looking at technical indicators, the MKAST Algorithm has just switched into a sell-condition, which is understandable and clear for anyone watching the conditions. The MKAST Index is at 1/15 points, which is quite low and near an oversold condition. This low index point can be especially interesting since GNT is testing its support for the second tie only, and with the nearly oversold conditions, this could turn out bullish. Moreover, the volume is decreasing and not very much supporting the ongoing selling.
