An increase in demand brings a reversal from $12 in WAVES prices to challenge the death cross; however, will buyers surpass the formidable selling pressure?

Key technical points:
<ul>
 	<li style="font-weight: 400">The WAVES price cracks under $15.</li>
 	<li style="font-weight: 400">The EMAs give a death cross.</li>
 	<li style="font-weight: 400">The 24-hour trading volume of Waves is $808 Million, indicating a 155% rise. </li>
</ul>
<h2>Past Performance of WAVES</h2>
April was one of the most challenging months for <a href="https://www.cryptoknowmics.com/news/waves-price-prediction-2022-2026-will-the-price-of-waves-hit-70-by-the-end-of-2022/">WAVES</a> investors and registered a total loss of 76.5%. The altcoin fell from its record high of $62.36 and broke through multiple levels of support before reaching its current level of $12. On May 5th, the buyers tried to break the overhead barrier of $17 but the constant sell-off of the market for crypto heightened the selling tension.

<img src="https://s3.tradingview.com/snapshots/j/JnUN6Xgn.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/JnUN6Xgn/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>WAVES Technical Analysis </h2>
The altcoin dropped 24% lower, attempting to test the $12 resistance once more. The market continues to bear red flags, however, the WAVES is currently at 12% on the intraday levels and is advancing to $17. 

The EMAs strive to achieve a bearish alignment as the selling pressure grows evident by the death cross in the daily chart. 

The RSI slope shows a bullish recovery over the past few days resulting in an exit from the oversold zone and surpassing the 14-day average score. Moreover, the RSI slope shows an extreme bullish divergence supporting an upside reversal possibility. 

The MACD indicator displays a bullish crossover as the fast and slow lines restart the uptrend to surpass the zero line. Moreover, the bullish histograms gain trend momentum reflecting a surge in buying pressure. 

In short, the WAVES technical analysis forecasts a potential uptrend ready to reach the $20 level.
<h2>Upcoming Trend</h2>
If the buyers of WAVES can surpass the resistance level again, the subsequent surge will propel the altcoin 18% to the $20 psychological mark.

The bullish thesis will be invalidated if sellers sell the coin price below $12 and threaten a plunge of 30%.

Support Levels: $12 and $8

Resistance Levels: $15 and $20

WAVES Technical Analysis: Death Cross Opposes New Buyers

An increase in demand brings a reversal from $12 in WAVES prices to challenge the death cross; however, will buyers surpass the formidable selling pressure?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

WAVES Technical Analysis: Death Cross Opposes New Buyers

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