The Waves protocol (WAVES) price has remained in a channel against Tether (USDT) as it attempts to break out of this trend. Despite the recent shift in the market trend, Waves protocol (WAVES) has shown little to no significant movement, as many altcoins rallied and produced double-digit gains. (Binance data) Related Reading: Bitcoin Trading Hikes On DBS Digital Exchange Despite Crypto Winter The Weekly Chart Analysis For WAVES Protocol (WAVES) According to the chart, WAVES hit a weekly low of $4.2, then bounced back to $5. Considering its all-time high of more than $60, this isn’t much of a movement. The weekly candle for WAVES closed with a bearish sentiment, while the new week’s candle appears bullish for price recovery. The price has struggled to gain traction as it attempts to break out of the $4-$6.3 price range. If the weekly chart of WAVES maintains this structure, it could quickly return to its low of $4, acting as support. WAVES must maintain this support zone to avoid falling below. Weekly resistance for the price of WAVES – $6.3. Weekly support for the price of WAVES – $4. Daily (1D) WAVES Price Chart Analysis With more buy orders, WAVES price could break to the upside after forming a range in a channel; a breakout and retest above $6.3 would indicate a continuation of the uptrend. The price must break out with sufficient volume to form support above the ranging channel to confirm bullish se...
