WAVES Technical Analysis: Death Cross Opposes New Buyers

An increase in demand brings a reversal from $12 in WAVES prices to challenge the death cross; however, will buyers surpass the formidable selling pressure? Key technical points: The WAVES price cracks under $15. The EMAs give a death cross. The 24-hour trading volume of Waves is $808 Million, indicating a 155% rise. Past Performance of WAVES April was one of the most challenging months for WAVES investors and registered a total loss of 76.5%. The altcoin fell from its record high of $62.36 and broke through multiple levels of support before reaching its current level of $12. On May 5th, the buyers tried to break the overhead barrier of $17 but the constant sell-off of the market for crypto heightened the selling tension. Source-Tradingview WAVES Technical Analysis The altcoin dropped 24% lower, attempting to test the $12 resistance once more. The market continues to bear red flags, however, the WAVES is currently at 12% on the intraday levels and is advancing to $17. The EMAs strive to achieve a bearish alignment as the selling pressure grows evident by the death cross in the daily chart. The RSI slope shows a bullish recovery over the past few days resulting in an exit from the oversold zone and surpassing the 14-day average score. Moreover, the RSI slope shows an extreme bullish divergence supporting an upside reversal possibility. The MACD indicator displays a bullish crossover as the fast and slow lines restart the uptren...