The crypto market was on a slump this week, but the trend quickly reversed, and most altcoins have managed to go beyond critical resistance levels. The coin is among the altcoins trading in the green zone after making significant gains in the past 24 hours.
WAVES is trading at $14.02 at the time of writing after a 3.3% gain.
WAVES Price Analysis
The volatility of the coin has been mild in the past week, and despite the lack of market support at the beginning of the week, the token did not make any significant losses. The current upswing is attributed to the gains that bitcoin has made in recovering beyond $32K.
The current upswing will progress if market support continues, in which case we will see the token heading towards $17. Such an upswing will be further supported if investors start purchasing at the current prices with hopes that the price surge will progress.
The coin has lost around two-thirds of its value since its May peaks, and if there is another major slump in the market, we could see the token retesting lower values of $11. If the coin goes below $10, it will re-enter a strong bearish zone that could erase the over 7000% gains made by the token this year.
This year, decentralized exchanges (DEX) have primarily grown in value and popularity because they are not subject to regulations by a central authority. The token is a popular DEX that was created in 2016. The exchange aims at creating a vibrant cryptocurrency ecosystem. Waves is the only decentralized exchange that operates on its blockchain.
Last month, Waves announced that it would be venturing into the NFT craze through its native game, Waves Ducks. The NFT trading platform would implement trading and DeFi yield farming in a fun and accessible way.
Where to Buy Waves
To buy Waves, create a cryptocurrency exchange account on the following platforms:
To buy Waves, you can create an account on eToro. eToro has friendly features; hence new traders will have an easy time navigating. Besides, eToro also supports unique features such as copy trading, which allow new traders to learn from market experts.
You can also buy Waves from Binance. Binance is the largest cryptocurrency exchange, and it supports over 100 cryptocurrencies and trading pairs. Binance is also popular for its low trading fees and high liquidity.
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