WAVES Price Breaks Down Below Horizontal Support
The WAVES price has been falling since reaching an all-time high price of $63.88 in March 2022. Throughout this period, WAVES has been one of the biggest losers in the crypto market and has decreased by 94.50%. In Sept. 2022, the WAVES price broke down from the $4.60 horizontal area, which had been acting as support since the beginning of 2021. Afterward, it validated the area as resistance (red icon). Breakdowns from such long-term structures usually lead to sustained downward movements. If the decrease continues, the closest support area would be at $2.30. The invalidation of the bearish hypothesis would be a weekly close above the $4.60 area. However, this seems unlikely at the current time.
Source
https://t.me/Helium_Waves_Stepn
