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- The WAVES token price has declined by 98% from its all-time high price.
- The total value locked for the token had witnessed a huge decline over time.
The WAVES token’s trading volume has consistently grown in the last few days. This further was followed by a rise of 125% in the token’s traded volume in just 24 hours.
As per CoinMarketCap, tokens worth $68.322M were traded in the last 24 hours from the press time. This resulted in huge liquidity, followed by a volume/market cap ratio of 48.03%. This showed that buying and selling tokens in different market conditions was easy.
The Waves token market cap also witnessed a slight advance of 2.4%, which resulted in a market cap value of $143.77M. As per CoinMarketCap, the token’s market cap ranking was #283, followed by a market cap dominance of 0.01%.
The token’s maximum supply is infinite, while its circulating supply and total supply were the same, resulting in 115.255M WAVES. Also, the token’s fully diluted market cap was worth $143.771M, slightly higher than the spot market cap.
The Total Value Locked for the token was $11.68M, and its stablecoins’ market cap was valued at $13.59M. Additionally, the security score of the token was 73.01, as per Certik Skynet.
Waves Token Active Addresses Overview
Over the last five years, there have been multiple fluctuations in the number of token holders.
From the highs of 5.6K holding addresses at a time, the number of token holders has declined to 3.1K.
The recent chart indicated a consistent surge in holding addresses for the token, which showed optimism among traders and investors.
WAVES Token Technical Analysis
Since 14th March 2024, the WAVES token price has witnessed consistent profit booking. This profit booking led to a more than 80% decline in the token price from the swing high of $4.98.
The WAVES token price action showed the formation of a higher high swing on the daily chart. This was followed by a consistent rise in the token price over the last few days.
The token’s price advanced 65% from the swing low of $0.758 in less than a month. This showed that bulls are entering the token, and the token’s price might continue to surge if it continues to get volume support.
WAVES Token Technical Indicator Analysis
While the lower levels pushed the Wave token price, the technical indicator seemed to follow the prior trend. This resulted in a price weakness.
WAVES/USD Chart by TradingView.com
The 50-day and 200-day EMAs have traded in a death cross on the daily chart. Despite this, the token’s price broke out above the 50-day EMA, and the next hurdle is the 200-day EMA at the higher levels.
The MACD also crossed above the negative trajectory and hit the bullish trajectory. This shows a surge in the bullish momentum in the token price.
The RSI also advanced to the level of 65 from the oversold zone. It further sustained above the 14-day SMA.
The WAVES token has seen a 98% decline from its all-time high, yet recent trading volume surged by 125%. Despite this, there are signs of bullish momentum, with a 65% price rise from recent lows. However, technical indicators remain mixed, suggesting potential uncertainty in sustained recovery.
The WAVES token’s price might take support at the levels of $0.750 and $1.020, followed by the resistances of $2.0 and $2.60.
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.
