- Crypto project Waves recently started rallying up, and breaching one major resistance after another.
- The project surged from $1.85 to almost $2.80 in a single day, going up by nearly $1.
- While Waves price briefly got rejected, it is currently continuing its growth.
Waves (WAVES), the project that aims to speed up the shift from centralized to decentralized systems, saw a major price surge in the last 24 hours. The project’s coin skyrocketed from $1.83 to $2.80, increasing its value by almost $1 in a single day.
Waves’ new price performance allowed the coin to hit a new YTD high in less than a day. The coin previously reached its 2020 peak only a few weeks ago, on July 22nd. Back then, it reached the height it previously saw in February, before the mid-March price crash.
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
However, after reaching $1.70, WAVES retraced back to a support at $1.50. After remaining near this support for a few days, Waves started growing again in the early days of August.
There were several resistance levels for it to breach along the way, including the one at $1.70. This one once again stopped the coin’s progression, and it even held it between August 4th and 6th. However, it finally broke on August 7th, allowing WAVES to proceed to its higher resistances.
The next level that stopped the coin’s progression was at $1.90, although Waves broke it rather quickly. The one at $2 proved more difficult to crack, and Waves even saw a slight price rejection, back to $1.85.
Waves’ real rally begins
However, yesterday, August 12th, the coin suddenly skyrocketed from $1.84 to $2.20. As traders rushed to buy Waves, the coin struggled to breach this resistance which rejected it several times in only a few hours.
But, WAVES kept coming back, until it eventually breached this barrier earlier today. What followed was a surge that allowed it to almost reach $2.80. While the price started dropping before it touched this level, this is still the highest WAVES has reached this year, at least so far.
Waves then sank to $2.60, but it appears that it managed to bounce back from this level, as its price currently sits at $2.65, with 30.87% gains against USD in the last 24 hours, and 32.31% against BTC in the same period.
Conclusion
Waves’ price saw a strong surge in the last 24 hours, which allowed it to breach multiple resistances and hit a new YTD high.
