Waves (WAVES) price has advanced from $4.9 above $14 since the beginning of January 2021, and the current price stands around $10. This cryptocurrency’s trend remains bullish, but if the price falls below $8, it would be a firm “sell” signal and possibly a trend reversal sign.
Fundamental analysis: Waves is trying to make open finance attractive for regular users on a day-to-day basis
Waves (WAVES) has extended its correction from the record levels registered in the third week of February, but there is no risk of the bear market for now. Waves is an all-encompassing gateway blockchain platform with developer-friendly infrastructure.
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This blockchain platform enables you to create a dApp and represents a testing ground for innovation. WAVES is the native token of this platform, and according to analysts, this cryptocurrency has a big potential.
Waves platform has 103 million tokens available in total supply that are tradable on many exchanges. Waves wallets enable fast and secure access to a wide range of cryptocurrencies while allowing you to trade any pair of tokens without conducting a transaction through an intermediate currency.
Five years ago, when Waves was created, decentralized finance (DeFi) was still in formative stages, while today, Waves plays an important role in this space.
“Based on the Waves blockchain with its low fees and high transaction speed, the ecosystem’s DeFi products and projects are enjoying an inflow of new users, while other chains, including Ethereum, are hitting a road bump due to enormous fees and throughput issues. We truly believe that DeFi apps are set to boost mass adoption of blockchain solutions, and we are doing everything possible to make open finance attractive for regular users on a day-to-day basis,” Waves reported on its official website.
With more than 300 nodes all over the world, this platform is secure, and it is important to say that so far, not a single DeFi application in the Waves ecosystem has been hacked.
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Technical analysis: $8 represents a strong support level
Waves (WAVES) has extended its correction from the record highs, but if the price jumps again above $11, it would be a signal to buy Waves (WAVES).
The next price target could be around $12 or even $14; still, if the price falls below $8, it would be a firm “sell” signal and probably a trend reversal sign.
Waves is an all-encompassing gateway blockchain platform with a goal to make open finance attractive for regular users on a day-to-day basis. Waves (WAVES) price has advanced from $4.9 above $14 since the beginning of January 2021, and the current price stands around $10. If the price jumps above $11, the next price target could be around $12, but if the price falls below the $8 support level, it would probably be a trend reversal sign.
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