All major cryptocurrencies are advancing this trading week, and this situation also supports the price of Waves (WAVES). Bitcoin has stabilized above the $19000 support level, indicating that the price could reach the $20000 resistance level this December.
Fundamental analysis: There is still a level of uncertainty surrounding this project
Waves is an all-encompassing gateway blockchain platform that was launched in 2016 by Ukrainian-born scientist Alexander Ivanov. This platform offers a developer-friendly infrastructure as a testing ground for innovation, which enables you to create a dApp — an application that is stored and executed on the blockchain network.
Waves’ native token is WAVES, and this is one of the cryptocurrency industry’s earliest initial coin offerings (ICO). Waves platform has 103 million tokens available in total supply that are tradable on many exchanges.
Waves has lots of advantages for business clients who want to create new services, and this blockchain platform is safe because it has more than 300 nodes all over the world. It is also important to say that Waves allows you to trade any pair of tokens without conducting a transaction through an intermediate currency, and it takes a few milliseconds to approve the transaction.
With this platform, clients can create custom crypto tokens and applications without extensive smart contract programming. Anyone can join the Waves network, and this is one of the cryptocurrencies you should not ignore.
There is still a level of uncertainty surrounding this project, and if you decide to buy Waves (WAVES) I recommend you always to use a “stop-loss” order.
In a recent interview, Waves CEO Alexander Ivanov said that Decentralized finance’s (DeFi) surging popularity might hurt the cryptocurrency market. “DeFi is the future, but it’s going to be coming through a bubble part of the cycle now, which can harm its long-term development,” said Ivanov.
Technical analysis: Waves continues to trade in a”bull” market
This crypto has advanced from $2.10 above $8 in less than two months, and the current price stands around $7.30.
On this chart, I marked significant resistance and support levels. The critical support levels are $7 and $6; $ 8 and $9 represent the resistance levels.
If the price jumps again above the $8 resistance, it would be a signal to buy Waves (WAVES), and the next target could be around $8.5. On the other side, if the price falls below $6 support, it would be a firm “sell” signal, and we have the open way to $5.
All major cryptocurrencies are advancing this trading week, and this situation also supports the price of Waves (WAVES). Waves is one of the cryptocurrencies you should not ignore, but there is still a level of uncertainty surrounding this project. Traders should always use “stop-loss” and “take profit” orders when they open their positions because the price of this coin could move very quickly. If the price jumps again above the $8 resistance, it would be a signal to buy Waves (WAVES), but if the price falls below $6 support, it would be a firm “sell” signal.
The post Up or down? Waves (WAVES) price prediction for December appeared first on Invezz.