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- The WAVES crypto price is trading close to its cycle high of $4.35.
- The crypto has high liquidity on its market cap, followed by a volume/market cap ratio of 73.10%.
Waves, founded by Alexander Ivanov, aims to enhance blockchain usability and speed. Its native token, WAVES, facilitates payments. Waves offers smart contract and dApp support, with additional features like Gravity and Neutrino for DeFi. Notably, it achieved interoperability with Ethereum by launching WAVES as an ERC-20 token in 2020.
The market capitalization of the Waves token is $530.906M, which has witnessed an advance of 33.8% in the last 24 hours. Moreover, the token’s current market cap ranking is #174, according to CoinMarketCap.
The token’s volatility is very high, resulting in 16.8%, per Coincodex. The current market cap dominance of the token is 0.02%, and the trading volume for the crypto has witnessed an advance of 315% in the last 24 hours.
The value of the traded volume for the crypto in the last 24 hours is $488.443M, and the volume ranking of the crypto is #57. Also, the all-time high price recorded for the crypto is $62.36, achieved two years ago.
Waves Token Supply Overview
The fully diluted market cap of the token is $3.814B, followed by a circulating supply market cap of $429.533M. As per Etherscan.io, the total number of holders for the WAVES is 2.09K, and the maximum supply of the crypto is infinite.
The token’s circulating supply and max supply are the same, 114.05M WAVES.
WAVES Token Derivatives Analysis
The token’s derivatives trading volume has witnessed a surge of 217% in just the last 24 hours, resulting in a traded volume of $308.48M. Following this, the open interest also advanced by 42.9%.
The long/short ratio of the token for the derivatives is 0.9697, and the long liquidation for the crypto is worth $343.0K. The short liquidation for the token is slightly lower than the short liquidation, resulting in $374.25K.
Waves Token Volume Analysis
Over the last few days, the trading volume of the WAVES crypto has witnessed huge activity and advancement. It indicates that investors are gaining interest in the crypto.
WAVES Crypto Technical Analysis
The trading price of the WAVES token was consolidating inside a wedge pattern on the weekly timeframe for a long time. Following the most recent week, the trading price of the crypto broke above the pattern with a strong surge in trading volumes.
The following behavior in the price represents strength and reliability in the breakout, indicating the possibility of further advance in the crypto price.
WAVES/USD Chart by TradingView
The trading price of the token is consistently advancing, followed by the advancement in the values of the crucial EMAs. Moreover, the 50-day and the 200-day EMAs are trading in a golden crossover, and the token price is trading above the 20-day EMA.
The Average Directional Index value has advanced to 29.2 from the lower level. The following behavior of the ADX indicator represents that the cryptocurrency’s trend is gaining strength.
The signal line and the MACD line are trading in a golden crossover, and the factors’ value has been consistently advancing from the lower levels. The MACD is trading at a level of 0.36686, and the signal line is trading at a level of 0.2774.
The following behavior of the technical indicators represents strength in the trading price of the crypto.
Summary
WAVES crypto experiences a surge in trading volume and price, nearing its cycle high at $4.35. With high liquidity and market cap dominance, it exhibits solid bullish signals, including a breakout from a wedge pattern and positive momentum in key technical indicators like MACD and ADX, suggesting further price appreciation.
Technical Levels:
- Support levels: $1.33490 and $2.033
- Resistance levels: $11.540 and $16.960
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
