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Cryptocurrency : Is it a good time to buy? Invezz

The cryptocurrency market is moving forward this business week; Bitcoin advanced above the $ 34,000 level again, and this situation is also supported by Waves WAVES / USD. Waves has advanced from $ 11.67 above $ 16 since July 21, and the current price is hovering around $ 15.5.

Fundamental analysis: Waves allows users to issue tokens without any programming experience.

Waves is a comprehensive gateway blockchain platform that represents a testing ground for innovation and enables you to create computing applications that run on a decentralized computing system. Waves was created in 2016 and has maintained its position among the 100 most popular cryptocurrencies.

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Waves has a developer friendly infrastructure, and to interact with this platform, you have to use WAVES tokens. Waves have low transaction fees that start from 0.001 WAVES for regular transactions or 0.005 WAVES for transactions that invoke a script.

Waves allows you to exchange any pair of tokens without making a transaction through an intermediate currency and it is important to say that the Waves platform has 103 million tokens available in total. Launching a smart token in Waves requires no programming experience, and is as simple as clicking a few buttons.

Waves is a truly unique project with great potential; The popularity of this project is increasing around the world, while more and more exchanges offer this cryptocurrency. The waves could advance again to the levels we saw in May 2021, but this certainly won’t happen in the next few weeks or even months.

The cryptocurrency market is moving forward in recent days, but traders should consider that the risk of another dip is not over yet and should wait for Bitcoin to approach a stronger resistance level before taking long trades.

‚ÄúPotential investors looking to buy the dip should understand that fluctuations are normal and be prepared for this type of volatility in the future. Even if you invest now, at relatively low prices, be prepared for them to fall further. ‘ said Humphrey Yang, the personal finance expert at Humphrey Talks.

Technical Analysis: $ 12 Represents Strong Support Level

The cryptocurrency market advances this week; Still, the risk of another decline is not over, and prices may take a long time to recover further. Waves has advanced from $ 11.67 above $ 16 since July 21, but if the price of Bitcoin falls below the $ 30,000 support again, that will negatively influence Waves.

Data source: tradingview.com

The current support level is $ 12; $ 18 and $ 20 represent important resistance levels. If the price falls below $ 12, it would be a strong “sell” signal, and we have the way to go at $ 10 or even below.

On the other hand, if the price exceeds $ 18, the next price target could be around $ 20.

Summary

The cryptocurrency market is moving forward this business week; Bitcoin advanced above the $ 34,000 level again, and this situation is also supported by Waves. Despite this, the risk of another drop is not over, and if the price falls below the $ 12 support, it would be a firm “sell” signal, and the way is open at $ 10.

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