WAVES Trading Analysis – Triple Breakout on WAVES/USDT Pair

Waves have already gone up over 134% this month, and the trading analysis suggests that there might be a third wave incoming. Let’s take a look at WAVES and what the charts are telling us.

What is Waves?

Waves is an open blockchain protocol and development toolset for Web 3.0 applications and decentralized solutions, aiming to raise the security, reliability, and speed of IT systems. It enables anyone to build their apps, fostering mass adoption of Blockchain

Waves Quick Stats

Symbol:	WAVES
Global rank:	32
Market cap:	$1,010,711,125 AUD
Current price:	$10.04 AUD
All time high price:	$24.07 AUD
1 day:	+15.25%
7 day:	+67.71%
1 year:	+1065.5%

Triple Breakout on WAVES/USDT Pair?

According to this chart, it looks like WAVES could be surpassing the triple breakout resistance on the USDT pair and the second major resistance is on the $8.07 price level.

This chart shows the parabolic trend of 30 min candle on the WAVES/USDT pair. The Price level at $8.7253 to be the final resistance for buyers.

The parabolic SAR indicator, developed by J. Wells Wilder, is used by traders to determine trend direction and potential reversals in price. … The parabolic SAR indicator appears on a chart as a series of dots, either above or below an asset’s price, depending on the direction the price is moving

What do the technical indicators say?

The WAVES TradingView indicators (on the 1 day) mainly indicate WAVES as a Strong Buy, except the Oscillators which indicate WAVES as a Buy.

Recent WAVES News & Events

• 03 Nov 2020 – IOST connects Gravity Network to foster cross-chain functionality
• 18 Nov 2020 – Waves Enterprise releases blockchain voting platform to the public
• 21 Nov 2020 – OKExChain partners with Waves protocol
• 31 Dec 2020 – Enterprise projects can buy WAVES & VST
• Q4 2020 – Waves Enterprise and Waves Platform Sidechains

Where to Buy or Trade WAVES

WAVES has the highest liquidity on Binance Exchange so that would help for trading WAVES/USDT or WAVES/BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.

Conclusion

The trading charts suggest WAVES could be breaking the second major resistance on the USDT chart and the technical indicators suggest WAVES as a strong buy. The news about the cross-chain support on 3rd November was in hindsight a potential trigger of the first wave.