WAVES Technical Analysis: $20 Milestone Boosts Bullish Morale

WAVES coin price shows a boom in buying pressure as it approaches the $20 milestone and hints at a bullish continuation to $25. Key technical points: The WAVES coin price reaches $20 The RSI indicator signals the coin as overbought The 24-hour trading volume in the WAVES token is $1.14 Billion, indicating an 18% rise. Past Performance of WAVES WAVES price shows a bullish engulfing candlestick of 11% growth with almost 20 hours left on the clock. The bulls surpassed $20, and the bearish-aligned daily EMAs resulted in the ongoing rally of 100% in the last week. The rally initiated with the recovery in the overall market; however, despite the correction in the past 72 hours, the altcoin continues the bullish trend. Source-Tradingview WAVES Technical Analysis The recent growth in WAVES price undermines the higher price rejection observed in the previous candles and increases the overall morale. Hence, the upcoming rally may shortly approach the $23 mark. The crucial EMAs showcase a reversal in the bearish alignment that may shortly result in bullish crossovers as the rally takes over multiple bearish strongholds. Hence, the failed resistance from the EMAs reflects the intensity of the buying spree. The MACD indicator shows a spike in the fast and slow lines with a considerable gap between the two, suggesting the uptrend is here to stay. Moreover, the indicator maintains the high-intensity bullish histogram formations, projecting t...