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The Waves price has plummeted 30% in the last 24 hours to trade at $1.67 as of 3:30 a.m. EST.
The price plunge follows an announcement by Binance that it would no longer support the token.
Waves, a blockchain network created by Ukrainian entrepreneur Sasha Ivanov, is facing scrutiny after Binance said the token didn’t meet the standards required to list on the world’s biggest crypto exchange.
$WAVES Getting delisted.
Price declining by 30%.
What can we see here ? What happened ? What do we want to see to catch a potential reversal ?
Let’s dig in detail.
— Runbot (@Runbot_io) June 3, 2024
This delisting follows Binance.US’s February decision to remove WAVES for similar reasons. Korean exchanges Upbit and Bithumb have also delisted the token, citing issues with its associated stablecoin, Neutrino USD (USDN), which has struggled to maintain its peg to the U.S. dollar.
Waves Price Falls Below Its Consolidation Phase
The Waves price experienced sharp red candle spikes after Binance announced its delisting from the platform, allowing the bears to short the token. The Waves price has been on a consolidation zone for a long time as holders held on with anticipation of the token bouncing back.
WAVESUSDT Analysis. Source: Tradingview
Waves’ technical indicators also paint a bearish picture, as the price is trading below both the 50 and 200 simple moving averages on the 4-hour chart. Additionally, a moving average cross at $2.40 further confirms the negative outlook for WAVES.
The Relative Strength Index (RSI) has dropped from the 50 midline level, plunging to 9.2, well below the oversold threshold of 30, signaling significant selling pressure.
Moreover, the MACD indicator is also bearish, with the blue average line crossing below the orange signal line under the neutral level. The histogram shows increasingly red bars below the neutral level, reinforcing the bearish momentum for WAVES.
Waves Price Prediction
The overall outlook for WAVES remains bearish, and recovery seems distant. However, there are some hopeful signs as small green candle ticks indicate some investors still believe in the token project.
If the bulls gain enough momentum, they can push the price back to the $2.45 level. Nevertheless, the bearish trend appears strong, and the bears will likely continue to drive prices down, leading to further declines and consolidation in the RSI.
A Promising Alternative
Meanwhile, traders who lost in the Waves project can consider instead investing in WienerAI, the new dog-themed meme coin that combines two of the hottest niches in crypto: AI and meme coins.
WienerAI is a blend of dog, sausage, and AI trading bot. Its predictive tech, paired with its easy-to-use AI interface, lets you quickly search the crypto market for hidden gems.
Just ask WienerAI to find your next trade, and it will provide market analysis to boost your chances of success. Plus, you can effortlessly swap without worrying about MEV using decentralized exchanges, all provided with zero fees.
UPGRADE your trading strategy.
The WienerAI Trading Bot will be your trusted trading companion, leveraging AI to make savvy and predictive moves in a dynamic market. pic.twitter.com/uYCRAWRd2N
— WienerAI (@WienerDogAI) June 1, 2024
Investors who have acquired the WAI tokens can also stake their tokens and earn an annual yield of 261%. The platform has allocated 20% of the token supply for staking purposes.
ClayBro, a popular analyst on YouTube, says WienerAI could be the next big thing with a potential for 100X returns.
The token’s presale has just blasted past $4 million in funds raised as investors pile into the project.
This is getting WILD
SO happy to be on this journey with you all
SO MUCH MORE AHEAD 🌭🤖 pic.twitter.com/kWq22xWfSw
— WienerAI (@WienerDogAI) June 3, 2024
To participate, you can buy WAI tokens for $0.000713 each. But hurry before a price hike in less than 16 hours.
Buy WAI tokens here using ETH, BNB, USDT, or a bank card.
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