WAVES should continue to oscillate in the triangle for next few days and move sideways as supported by no volume in Force Index, bearish SAR and MACD.
Even if it breaks out of the triangle, it will meet strong resistance at 38.2 FIB, once it breaks that it face significant resistance at 50 FIB. Chances of reversal from these two levels seem to be good.
But a successful breakout above these two levels can make WAVES to a price of 18-23.6 $. Other technical indicators should support in order for this breakout to happen which I do not see as of now.
Currently WAVES is in a BUY opportunity zone.
Disclaimer: This chart is just for informational purposes and not an investment advice. Please trade at your own risk.
Even if it breaks out of the triangle, it will meet strong resistance at 38.2 FIB, once it breaks that it face significant resistance at 50 FIB. Chances of reversal from these two levels seem to be good.
But a successful breakout above these two levels can make WAVES to a price of 18-23.6 $. Other technical indicators should support in order for this breakout to happen which I do not see as of now.
Currently WAVES is in a BUY opportunity zone.
Disclaimer: This chart is just for informational purposes and not an investment advice. Please trade at your own risk.
