Waves (WAVES) Price Prediction 2023 – Will WAVES Hit $5 Soon? wafact

  • Bullish WAVES price prediction for 2023 is $3.268 to $5.198.
  • The WAVES price will also reach $5 soon.
  • Bearish WAVES price prediction for 2023 is $1.331.

In Waves (WAVES) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about WAVES to analyze the future movement of the cryptocurrency.

Waves (WAVES) Current Market Status

Current Price$1.41
24 – Hour Trading Volume$20,917,061
24 – Hour Price Change2.7% up
Circulating Supply100,000,000
All – Time High$61.30 (On March 31, 2022)  

WAVES Current Market Status
(Source: CoinMarketCap)

What is Waves (WAVES)?

WAVES is the native token of the Waves blockchain launched in 2016. This blockchain enables users to create new and custom crypto tokens. Also, it allows developers to create and launch decentralized apps (dApps) via custom smart contracts.

The ledgers on Waves operate on leased proof-of-stake (LPoS), a special PoS consensus mechanism. LPoS lets users participate in the block validation process by leasing their WAVES tokens in specialized nodes.

WAVES is deployed in the governance of the blockchain and can be staked or leased for rewards. These payment tokens can be traded on its native Waves exchange and even on third-party centralized exchanges (CEXs).

Waves (WAVES) Price Prediction 2023

Waves (WAVES) ranks 122nd on CoinMarketCap in terms of its market capitalization. The overview of the Waves price prediction for 2023 is explained below with a daily time frame.

WAVES/USDT Right Angled Descending Broadening Wedge Pattern (Source: TradingView)

In the above chart, Waves (WAVES) laid out a right-angled descending broadening wedge, which is a bullish reversal pattern. The pattern is an inverted ascending triangle because it is made up of two converging lines with a horizontal line for the resistance and a bearish downward slant for the support.

At the time of analysis, the price of Waves (WAVES) was recorded at $2.13. If the pattern trend continues, then the price of WAVES might reach the resistance levels of $2.438 and $4.541. If the trend reverses, then the price of WAVES may fall to the support of $1.320.

Waves (WAVES) Resistance Support Levels

The chart given below elucidates the possible resistance and support levels of Waves (WAVES) in 2023.

WAVES/USDT Resistance and Support Levels (Source: TradingView)

From the above chart, we can analyze and identify the following as the resistance and support levels of Waves (WAVES) for 2023.

Resistance Level$3.268
Resistance Level 2$5.198
Resistance Level 3$2.085
Support Level 1$1.331
WAVES Resistance & Support Level

As per the above analysis, if Waves’s (WAVES) bulls take the lead, then it might hit and break through its resistance level of $5.198.

Conversely, if Waves’s (WAVES) bears dominate the trend, the price of WAVES might plunge to $1.331.

Waves (WAVES) Price Prediction 2023 — RVOL, MA, and RSI

The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Waves (WAVES) are shown in the chart below.

The technical analysis indicator Relative Volume (RVOL) is used to measure the trading volume of an asset in relation to its recent average volumes. It is typically calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. Also, it helps traders in identifying unusual trading activity and changes in market sentiment. 

At the time of analysis, the RVOL of Waves (WAVES) was found below the cutoff line. Thus, it denotes a weak volume of participants trading in the current trend.

The next technical indicator is the Moving Average (MA). This momentum indicator is used to smooth out price data and identify trends in the market. It helps in calculating the average price of an asset over a specific period. Particularly, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days. When the price of an asset is above 50MA, it is considered to be in an uptrend (bullish), and if laid below 50MA, it is in a downtrend (bearish).

Notably, in the above chart, the WAVES price lies above 50 MA (short-term), indicating its upward. Hence, WAVES is in a bullish state. Although this is the current state, a trend reversal might occur.

Next up is the Relative Strength Index (RSI). Significantly, this analysis indicator helps traders to determine the strength and momentum of an asset’s price movement over a specific period. In this analysis, the RSI is calculated by comparing the average gains and losses of the asset over the past 14 periods. The resulting value lies between a range of 0 and 100. Hence, the readings above 70 indicate an overbought state, and below 30 indicate an oversold state. 

Significantly, traders often use the RSI to identify potential trend reversals or to confirm the trend’s direction. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the asset is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI is in an oversold reading of 30, it may suggest a potential reversal.

At the time of analysis, the RSI of WAVES is at 64.90. Therefore, this indicates WAVES is nearly overbought state.

Waves (WAVES) Price Prediction 2023 — ADX, RVI

In the below chart, we analyze the strength and volatility of Waves (WAVES) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI).

To analyze the strength of the trend momentum, let us take note of the Average Directional Index (ADX). The ADX value is derived from the two directional movement indicators (DMI) such as +DI and -DI and is expressed between 0 to 100.

According to the data on the above chart, the ADX of WAVES lies in the range of 31.537 pointing out a strong trend. 

The above chart also displays another technical indicator – the Relative Volatility Index (RVI). This indicator measures the volatility of an asset’s price movement over a specific period. With respect to the chart’s data, the RVI of WAVES lies below 50, indicating low volatility.

Comparison of WAVES with BTC, ETH

Let us now compare the price movements of Waves (WAVES) with that of Bitcoin (BTC), and Ethereum (ETH).

BTC Vs ETH Vs WAVES Price Comparison (Source: Tradingview)

From the above chart, we can interpret that the price action of WAVES is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of WAVES also increases or decreases respectively.

Waves (WAVES) Price Prediction 2024-2030

With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Waves (WAVES) between 2024 and 2030.

Waves (WAVES) Price Prediction 2024

If bulls dominate the price momentum and trend patterns, then Waves (WAVES) might successfully test and surpass its resistance levels to hit $7 by 2024.

Waves (WAVES) Price Prediction 2025

The significant upgrades in the Waves Ecosystem might persuade the entry of an increased number of investors. This may eventually boost the Waves (WAVES) price to reach $9 by 2025.

Waves (WAVES) Price Prediction 2026

If Waves (WAVES) successfully tests its major resistance levels and continues to move upside, then it would rally to hit $11. 

Waves (WAVES) Price Prediction 2027

If Waves (WAVES) sustains major resistance levels and stands as a better investment option in the market, then WAVES would rally to hit $13. 

Waves (WAVES) Price Prediction 2028

If Waves (WAVES) holds a positive market sentiment amid the highly-volatile crypto market by driving significant price rallies, then WAVES would hit $15 by 2028.

Waves (WAVES) Price Prediction 2029

If investors flock in and continue to place their bets on Waves (WAVES), then the crypto would witness major spikes. Hence, WAVES might hit $17 by 2029.

Waves (WAVES) Price Prediction 2030

By 2030, the WAVES price might rally to $19 if the trend momentum aligns in favor of Waves. Furthermore, WAVES would hold a positive market sentiment and be labeled as a long-term investment with highly profitable ROI.

Conclusion

If Waves (WAVES) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Waves (WAVES) price prediction for 2023 is $5.198. Comparatively, the bearish Waves (WAVES) price prediction for 2023 is $1.331. 

If there is a positive elevation in the market momentum and investors’ sentiment, then Waves (WAVES) might hit $5. Furthermore, with future upgrades and advancements in the Waves ecosystem, WAVES might surpass its current all-time high (ATH) of $62.36 and mark its new ATH. 

FAQ

1. What is Waves (WAVES)?

Waves (WAVES) is a governance token on the Waves blockchain operating on the leased proof-of-stake (LPoS). It was launched in 2016 and later in 2020, it was launched as an ERC-20 token interoperable with Ethereum.

2. Where can you buy Waves (WAVES)?

Traders can trade Waves (WAVES) on the following cryptocurrency exchanges such as Binance, OKX, Deepcoin, Bitrue, and Bybit. 

3. Will Waves (WAVES) record a new ATH soon?

With the ongoing developments and upgrades within the Waves platform, Waves (WAVES) has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Waves (WAVES)?

Waves (WAVES) hit its current all-time high (ATH) of $62.36 On March 31, 2022.

5. What is the lowest price of Waves (WAVES)?

According to CoinMarketCap, WAVES hit its all-time low (ATL) of $0.1227 on August 03, 2016.

6. Will Waves (WAVES) hit $5?

If Waves (WAVES) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $5 soon.

7. What will be the Waves (WAVES) price by 2024?

Waves (WAVES) price might reach $7 by 2024.

8. What will be the Waves (WAVES) price by 2025?

Waves (WAVES) price might reach $9 by 2025.

9. What will be the Waves (WAVES) price by 2026?

Waves (WAVES) price might reach $11 by 2026.

10. What will be the Waves (WAVES) price by 2027?

Waves (WAVES) price might reach $13 by 2027.

Top Crypto Predictions

Dogecoin (DOGE) Price Prediction 2023

SingularityNET (AGIX) Price Prediction 2023

Arbitrum (ARB) Price Prediction 2023

Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

#Waves #WAVES #Price #Prediction #WAVES #Hit

Leave a Comment