Moon Boy WAVES is up Over 100% in Seven Days: Key Levels to Watch Now

The Wave community as a whole is growing at an incredible rate. The growth is also reflecting in the price of the WAVES token. The growth and massive price surge are the things that bring joy to the Waves community.

In the past seven days, WAVES gained over 130% in its value. According to CoinGecko, over the past fourteen days, a price increment of 181.4% and 206.7% in thirty days. Interestingly, the price change also reflects on the yearly scale with an increase of 271.2%. 

WAVES Price Analysis

WAVES/USD

• Key Resistance Level: $5.20, $5.00, $4.80
• Key Support Level: $4.00, $3.19, $2.65, $2.03

On August 13th, WAVES started a bull run, which seems to be coming to an abrupt end. Prices rose from $1.18 to $4.52 at the time of writing. However, the $4.52 is nothing compared to the all-time high of $16.08. There is more improvement that should be made concerning price.

With the surge in price comes an increase in support and resistance levels. The $5.20 is a resistance level that has not been tested in such a long time. With market sentiments not too high, it may be difficult for the Waves coin to test this resistance level.

The $4.80 resistance could be tested anytime soon if the conditions are right. But the current market sentiment is bearish as seen in the chart below., and prices can be expected to fall to the $4.00 support level and possibly bounce back and test the $4.80 resistance level if conditions are right.

If bears take full control of the market, prices may plummet to its long term support of $2.03. 

See Also: Is Chainlink (LINK) Headed For Top 5 With Back-to-Back All-time Highs?