WAVES Price Prediction: WAVES Price May Close Monthly Trade on a Bearish Note

Key Takeaways:

• The WAVES price closed the previous day’s trade at INR 1335.65 with a market capitalization of INR 191 Cr and a circulating supply of 10,80,93,490 WAVES
• The asset appears to have stuck in a huge bearish well where-in an escape may not be easy as the sentiments are extremely negative

Waves Price Analysis:  Will WAVES Price May Hit INR 2500 in April?

The Waves price is dropping in the deep bearish trend nullifying all the impacts of a rebound from the descending trend. Currently, the momentum is extremely bearish while no possibility of a trend reversal is seen. As the selling volume has accumulated to its peak, the prices are expected to drain heavily to reach the lower support soon.

Moreover, the monthly close is fast approaching and hence one cannot expect a huge flip with the trend. Therefore, even if the price halts the bearish trend, it may surge close to INR 1500 while the levels at INR 2000 also appear a tedious job. 

Waves Price Prediction: How High Will WAVES Price Go in 2022?

Waves price had broken the 5-month descending consolidation with a huge spike of more than 655% to mark the yearly highs at INR 4846. However, the price fell deep down hitting the monthly lows close to INR1200 in a very short time frame. Currently, no signs of a recovery are witnessed at the moment.

Once the market sentiments turn positive, the price may flip heavily, absorbing a significant uptrend. With a trend reversal, the price may reach its monthly highs initially in May and try hard to surpass INR 5000. Further after undergoing a couple of price variations, the WAVES price may range from around INR 7500 to INR 8200 by the end of 2022.

Waves Price Analysis: WAVES Price Table (Last 07 Days) 

Additional Read: What is WAVES?

WavesPrice Prediction: WAVES Price Trend Comparison with ETH (Last 30 Days)

Source: Tradingview

Waves and Ethereum are among the powerful Layer-1 blockchains in the crypto space. Despite Ethereum being the 2nd largest token, the price trend remained quite diminished compared to that of Waves. While ETH maintained a stagnant rally, Waves formed a mountain. 

The Ethereum price maintained its average trend between 9% to 14% from the beginning. However, it also spiked to hit 33% but eventually ended up at 6.36%. On the other hand Waves price smashed 460% and is currently settled at 63.71%.

Correlation of WAVES/USDT and WAVES/BTC (Last 30 Days)

Source: Tradingview

The WAVES price with both the trading pairs maintained a significant trend including the pace of the upswing and downswing. Both the pairs ranged high simultaneously and also shed huge value ahead. And woefully, both the pairs are almost at the same levels, they were during the beginning of March trade. 

The WAVES/USDT surged high to hit 440% above the average levels and is currently hovering at 64.2%. On the other hand, WAVES/BTC also slipped from 360% to as low as 59.16%. 

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