{"id":427941,"date":"2022-04-07T14:16:56","date_gmt":"2022-04-07T11:16:56","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/waves-price-crashes-50-in-one-week-watch-these-support-levels-next\/"},"modified":"2022-04-07T14:16:56","modified_gmt":"2022-04-07T11:16:56","slug":"waves-price-crashes-50-in-one-week-watch-these-support-levels-next","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/waves-price-crashes-50-in-one-week-watch-these-support-levels-next\/","title":{"rendered":"# WAVES price crashes 50% in one week \u2014 watch these support levels next"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a26ea86f0cdd\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a26ea86f0cdd\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/waves-price-crashes-50-in-one-week-watch-these-support-levels-next\/#%E2%80%9D_WAVES_price_crashes_50_in_one_week_%E2%80%94_watch_these_support_levels_next_%E2%80%9C\" >&#8221; WAVES price crashes 50% in one week \u2014 watch these support levels next &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/waves-price-crashes-50-in-one-week-watch-these-support-levels-next\/#WAVES_price_risks_another_30_decline\" >WAVES price risks another 30% decline\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/waves-price-crashes-50-in-one-week-watch-these-support-levels-next\/#Bull_flag_retest\" >Bull flag retest?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_WAVES_price_crashes_50_in_one_week_%E2%80%94_watch_these_support_levels_next_%E2%80%9C\"><\/span>&#8221; WAVES price crashes 50% in one week \u2014 watch these support levels next &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Waves (WAVES) lost around half its value in April so far and risks further correction due to weakening technical and fundamental factors.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"WAVES_price_risks_another_30_decline\"><\/span>WAVES price risks another 30% decline\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>WAVES dropped from nearly $64 on March 31 to around $27.50 on April 7 \u2014 down by over 55%. As it fell, the WAVES\/USD pair also broke below a key support confluence, hinting further correction.<\/p>\n<p>Notably, the confluence comprises WAVES&#8217; 50-day exponential moving average (50-day EMA; the red wave) and the 61.8% Fib line of the Fibonacci retracement graph \u2014 drawn from $64-swing high to $8.34-swing low.<\/p>\n<p>Now broken, they suggest that WAVES&#8217; path of least resistance is to the downside, with $25 acting as interim support due to its historical relevance as a price floor in October 2021 and March 2022.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/aa231e81-4e7a-47e9-95ea-852132a6372b.png\"><figcaption style=\"text-align: center;\"><em>WAVES\/USD daily price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Additionally, WAVES&#8217; daily relative strength index (RSI) also shows room for a further decline, being only 11 points away from slipping below the &#8220;oversold&#8221; threshold of 30.<\/p>\n<p>Meanwhile, breaking below $25 would risk crashing WAVES&#8217; price to its 200-day simple moving average (200-day SMA; the orange wave) near $20, coinciding with the 0.786 Fib line, about 30% lower than today&#8217;s price.<\/p>\n<p>The bearish setup emerged amid\u00a0allegations\u00a0that equaled the Waves Platform with a &#8220;Ponzi,&#8221; namely a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> thread penned by 0xHamZ, who accused Waves&#8217; team of\u00a0artificially inflating the price by more than 650% from February to March.<\/p>\n<p>Meanwhile, Neutrino USD, a &#8220;stablecoin&#8221; backed by WAVES reserves, also lost its U.S. dollar peg following 0xHamZ&#8217;s accusations, further dampening market sentiment.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin slides below $44K in April first as trader warns \u2018something is off\u2019 with BTC<\/em><\/strong><\/p>\n<p>Jolyon Horsfall, the co-CEO of NFT prediction platform SparkWorld, noted that the Waves Platform founder, Sasha Ivanov, &#8220;will need to step up if the token is to be revived and the project re-aligned on its ambitious path.&#8221; He warned:<\/p>\n<blockquote><p>&#8220;For the time being, the dumping is expected to continue, and the WAVES price may fall to its 30-day low of $21.&#8221;<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Bull_flag_retest\"><\/span>Bull flag retest?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>However, WAVES shows some signs of defying bearish predictions while keeping its long-term uptrend intact.<\/p>\n<p>Notably, the ongoing correction brings WAVES closer to testing another double-layered support zone, defined by its 20-week EMA (the green wave) and the upper trendline of its previous &#8220;bull flag&#8221; setup, as shown in the chart below.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/3b9946b3-26ee-45bb-abc3-148bff33a83e.png\"><figcaption style=\"text-align: center;\"><em>WAVES\/USD weekly price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>A bounce from this weekly support confluence could see WAVES rally to test its &#8220;bull flag&#8221; target near $70.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/waves-price-crashes-50-in-one-week-watch-these-support-levels-next\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; WAVES price crashes 50% in one week \u2014 watch these support levels next &#8220; Waves (WAVES) lost around half its value in April so far and risks further correction due to weakening technical and fundamental factors. WAVES price risks another 30% decline\u00a0 WAVES dropped from nearly $64 on March 31 to around $27.50 on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":427942,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvNDM4MGEwZGQtNzk3NS00OTA3LWEzNDQtMDYwZjhlMDNkODk3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74937,74863,81262,74939,78261,76583,73785,71407],"class_list":["post-427941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin-price","tag-cryptocurrencies","tag-cryptomarket","tag-market-analysis","tag-tech-analysis","tag-waves","tag-markets","tag-trading"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/427941","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=427941"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/427941\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/427942"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=427941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=427941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=427941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}