What's next for Waves?
Key Takeaways
- Binance has delisted the Waves (WAVES) token in July.
- The crypto’s price dropped after the exchange’s announcement.
- Our price predictions suggest an upward movement will happen soon.
WAVE hasn’t been experiencing the best of times.
The cryptocurrency has suffered a stunning fall from its peak, losing 97% of its value since March 2022. While a brief rebound in January 2023 offered a glimmer of hope, the recovery was short-lived. WAVES has plummeted by more than 60% this year, wiping out much of its remaining value.
The situation for WAVES worsened on June 3, when Binance announced the delisting of WAVES, triggering another sharp decline.
CCN’s current breakdown suggests that WAVES could fall below $1, potentially reaching a new all-time low.
On Aug. 15, 2024, WAVES exchanged hands for $1.08.
Let’s examine our price predictions for WAVES, made on Aug. 15, 2024. We will also examine Waves’ price history and discuss what it is and does.
Waves Price Prediction
CCN’s WAVE price predictions are based on a combination of fractal analysis and wave count analysis.
By averaging the results of these two methods, we generate a comprehensive price forecast.
We also provide a maximum and minimum price prediction, representing the more bullish and bearish scenarios, respectively.
This approach lets us offer readers a more nuanced understanding of the Waves market’s potential price movements.
| Minimum Waves Price Prediction | Average Waves Price Prediction | Maximum Waves Price Prediction | |
|---|---|---|---|
| 2024 | $1.40 | $1.70 | $2 |
| 2025 | $27 | $43.5 | $60 |
| 2030 | $7.2 | $9 | $10.8 |
Fractal Method
In November 2019, WAVES’ weekly RSI briefly entered oversold territory before rebounding, leading to a breakout above a 900-day descending resistance trend line.
The resulting upward movement lasted 847 days and produced an 11,461% gain.
In July 2024, the RSI repeated this pattern, falling into oversold territory and then recovering. If the pattern holds, WAVES’ price could break out from its trend line in September, sparking a similar upward movement.
If the increase has the same duration magnitude, WAVES could reach a high of $91 in October 2026.
During this projected increase, the fractal method gives a WAVES price prediction of $2 and $60 for the end of 2024 and 2025, respectively.
Wave Count Method
The most likely wave count implies that WAVES started an A-B-C structure in December 2019. If so, it has just finished the B wave or is close to doing so. The sub-wave count is in black.
If waves A and C have the same magnitude and duration, WAVES will reach a high of $88 in October 2026.
During this projected increase, the wave count gives a WAVES price prediction of $1.40 and $27 for the end of 2024 and 2025, respectively.
Finally, we use the daily rate of increase since launch to make a WAVES price prediction for the end of 2030. Since August 2027, the WAVES price has increased by 770%, for a daily rate of 0.26%.
Projecting this increase until the end of 2030 leads to a WAVES price prediction of $9. We then add and remove 20% from this target to come up with our minimum and maximum WAVES price predictions.
Waves Price Prediction for 2024
Our fractal and wave count methods give similar WAVES price predictions for the end of 2024. They both imply WAVES will break out from its resistance trend line but will not begin its rapid upward movement yet. The methods give a WAVES price prediction of $1.40 and $2, respectively.
Waves Price Prediction for 2025
Our fractal and wave count methods give different WAVES price predictions for the end of 2025. This is because they project dissimilar rates of increase, with the fractal forecasting a faster upward movement. More specifically, they give WAVES price predictions of $27 and $60 for the end of 2025.
Waves Price Prediction for 2030
Using the daily rate of increase since launch, we arrive at a WAVES price prediction range of $9.20 and $10.80 for the end of 2030.
WAVES Price Analysis
The daily WAVE price chart shows a decline under a resistance trend line that has been ongoing since March. The decrease led to a low of $0.77 on July 5. WAVES has climbed since then but has not yet broken out from the resistance trend line.
Despite failing to break out, the RSI and MACD have generated bullish divergences (green), enhancing the likelihood of a breakout.
If WAVES breaks out, the price can increase to the closest resistance at $2.35. This target is created by the 0.382 Fibonacci retracement resistance level and a horizontal resistance area.
Short-Term WAVES Price Prediction
The WAVES price prediction for the next 24 hours hinges on the possibility of a breakout from the resistance trend line.
If a similar rate of increase is followed, WAVES will break out by the end of the week. Then, the price can reach $1.90 by September.
Waves Average True Range
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days.
A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels.
On Aug. 14, WAVES’ weekly RSI was 0.044, implying low volatility. It has fallen since its all-time high of 8.7 in April 2022.
WAVES Relative Strength Index (RSI): Is WAVES Oversold or Undersold?
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold.
Movements above 70 and 30 show overbought and oversold conditions, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish.
On Aug. 15, WAVES’ weekly RSI was 36, showing a bearish trend. However, the indicator trends upward and recently moved outside its oversold territory, both seen as signs of a bullish trend.
WAVES Price Performance Comparisons
WAVES is a smart contracts platform, so let’s compare it with other projects in the same category with similar market caps.
Best Days and Months to Buy Waves
We looked at the WAVES price history and found the times when the price was at its lowest across certain days, months, quarters, and even weeks in the year, indicating the best times to buy WAVES.
| Time to Buy WAVES | Best Days, Weeks, Months and Quarters |
|---|---|
| Best Day | Tuesday |
| Best Week | 32 |
| Best Month | March |
| Best Quarter | Quarter 2 |
Waves Price History
Let’s now examine Waves’ price history. While past performance should never be taken as an indicator of future results, knowing what the token has done can help give us useful context when making or interpreting a Waves price prediction.
2016-2017: When Waves first entered the open market on June 3, 2016, it was worth $1.28. It then rose and reached its first all-time high of $15.63 in September 2017.
2017-2020: After reaching its peak, Waves returned to around $1.00 and remained there for three years.
2021: As 2021 began, WAVES surged to $32.46 in May, and after a brief retracement, it reached a new all-time high of $52.17 in April 2022.
2022-2023: Following its peak, WAVES dropped significantly, closing 2022 at around $1.57 and maintaining this level for most of 2023.
2024: Nothing significant changed in 2024 until June 3, when a Binance delisting announcement caused a 30% dip, with WAVES reaching $1.68 on June 4, 2024. The decline continued over the next few days, with WAVES hitting $0.77 in July.
| Period | Waves Price |
|---|---|
| Today (Aug. 15, 2024) | $1.07 |
| Last Week (Aug. 8, 2024) | $0.95 |
| Last Month (July 15, 2024) | $0.96 |
| Three Months Ago (May 15, 2024) | $2.48 |
| Last Year (Aug. 15, 2023) | $1.64 |
| Launch Price (June 3, 2016) | $0.29 |
| All-Time High (April 2, 2022) | $52.17 |
| All-Time Low (Aug. 5, 2016) | $0.15 |
Waves Market Cap
The market capitalization, or market cap, is the sum of the total number of WAVES in circulation multiplied by its price. On Aug. 15, 2024, WAVES’ market cap was $108 million, making it the 345th-largest crypto by that metric.
WAVES Supply and Distribution
| Supply and distribution | Figures |
|---|---|
| Total supply | 100,000,000 |
| Circulating supply as of Aug. 15, 2024 | 100,000,000 (100% of total supply) |
| Holder distribution as of Aug. 15, 2024 | N/A |
From the Waves Whitepaper
In its technical documentation or whitepaper , Waves describes itself as “a community-based stack of open-source, decentralized technology.
“Waves (WAVES) aims to enable a collection of decentralized open-source technologies so that developers may create scalable, usable apps. With Waves, an extensive blockchain ecosystem will be developed that offers several capabilities required for corporate adoption.”
Waves (WAVES) Explained
Entrepreneur Sasha Ivanov founded the Waves blockchain in 2016.
Waves is a blockchain platform that supports various applications, including decentralized applications (DApps) and smart contracts.
Launched in June 2016 after one of the cryptocurrency industry’s earliest initial coin offerings (ICO), Waves said it “aimed to enhance the capabilities of the first blockchain platforms by offering improved speed, utility, and user-friendliness. Since its inception, the platform has continually evolved, incorporating new features and spin-offs to expand upon its original design and functionality.”
How Waves Works
Waves’ native token, WAVES, has an uncapped supply and is primarily used for standard payments, including block rewards.
Is Waves a Good Investment?
It is hard to say. The coin has been around for eight years, and its price has notably decreased since its all-time high in late 2022.
Considering the negative sentiment around it, especially after Binance’s delisting, the asset could see more dips.
As always with crypto, you should do your own research before deciding whether or not to invest in Waves.
Will Waves go up or down?
No one can really tell right now. While the Waves crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind that prices can and do go down and up.
Should I invest in Waves?
Before deciding whether to invest in Waves, you must research WAVES and other related coins and tokens, such as Ethereum (ETH) and Solana (SOL). Either way, you must also ensure you never invest more money than you can afford to lose.
FAQs
Will WAVES reach $10?
Our price predictions suggest that WAVES can increase above $10 in the current market cycle.
What is WAVES used for?
Waves is used to make the process for developers to build their own decentralized applications (DApps) simpler by offering a user-friendly platform that operates on the Proof of Stake consensus algorithm.
It provides tools and features to streamline development, making it easier for users to create custom tokens for crowdfunding and other purposes. With a focus on usability and speed, Waves aims to offer faster and cheaper transaction processing than networks like Ethereum.
