The crypto market is currently on a losing streak since it crashed on December 4. With Bitcoin slumping to $47K, most tokens have dipped, and most of the market is trading in the green zone. However, a few tokens, such as WAVES, are making notable gains.
WAVES is trading at $19.95 at the time of writing after a 3.2% gain in 24 hours.
WAVES price analysis
The crypto market is tumbling, but the coin is holding a strong price action. It is one of the few tokens that have gained during the past 24 hours.
If WAVES continues with its gains, the token could break past the $20 resistance level. Its 24-hour high currently stands at $21, and if there is increased buying support, the token could easily go back to trading at these levels.
On the other hand, the broader market is in a recession, and if the token cannot hold the gains made during the past 24 hours, it could drop to further lows.
If WAVES retreats towards a downtrend, the token could drop to the lower support level of $18. It was trading at this price before the slight 24-hour bullish rally. Further dips could also trigger further dips towards $16.
Waves is an open blockchain protocol that seeks to help in building Web 3.0 applications. Web 3.0 is expected to be the next big thing in the technological sector, and projects or coins developing in this area have been in high demand because of expected gains.
Where to buy WAVES
If you want to buy WAVES during the current bullish rally, you can create an account on the following platforms:
One of the exchange platforms where you can buy WAVES is eToro. eToro is a reliable exchange, and it supports a wide range of cryptocurrencies and trading pairs. It also has a copy trading feature that is useful for beginners.
You can buy WAVES tokens from Binance. Binance is the largest exchange platform by trading volumes. It charges some of the lowest trading fees in the market, and it supports more than 300 cryptocurrencies.
Your capital is at risk.