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WAVESUSDT is testing the supply zone inside a rising wedge
The price had a nice breakout from the descending channel on the daily timeframe.
After the breakout the market had another breakout from the static daily resistance with volume on 1.8$ area.
on 4h timeframe the price is testing the supply zone, the 2.5$ area is a key level for WAVES, and now the market is creating a rising wedge.
A rising wedge is a bearish chart pattern consisting of two converging trend lines, with the first line connecting the recent lower highs and higher highs, and a second trend line connecting the recent lows. The resulting shape looks like a triangle that is angled upward. The opposite of a rising wedge pattern is a falling wedge.
What's next?
If the price is going to lose the local support and retest it as new resistance we could see a retracement until the previous daily support on 2$ area
After the breakout the market had another breakout from the static daily resistance with volume on 1.8$ area.
on 4h timeframe the price is testing the supply zone, the 2.5$ area is a key level for WAVES, and now the market is creating a rising wedge.
A rising wedge is a bearish chart pattern consisting of two converging trend lines, with the first line connecting the recent lower highs and higher highs, and a second trend line connecting the recent lows. The resulting shape looks like a triangle that is angled upward. The opposite of a rising wedge pattern is a falling wedge.
What's next?
If the price is going to lose the local support and retest it as new resistance we could see a retracement until the previous daily support on 2$ area
Nota
a false breakout so far.Let's see how it's going to develop it
Nota
5%Nota
15%
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.