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Waves (WAVES) Climbs Back to $6.50 in a 10% Daily Surge

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While most cryptocurrencies have had a difficult 2022 up to this point, Waves has undoubtedly been among the coins that have struggled the most. With the stablecoin USDN losing its peg earlier this year, the project was facing a threat of annihilation.

However, thanks to the intervention of its founder, who took over $500m debt to avoid the stablecoin depeg, the project managed to survive, and right now, it is apparently ready to see a recovery.

Waves price performance

In the last year, Waves has seen quite a volatile price behavior. It would not be wrong to say that it saw even more volatility than most other cryptos. Like the others, it saw a significant surge in the second half of 2021, which led it to $32.27 in mid-October. While most other coins kept growing until November 11th, Waves actually started seeing a price correction in October 2021.

The correction kept going into January and even February of 2022, with the coin finally reaching the bottom at around $10. Unfortunately, the support at $10 did not manage to hold, and WAVES actually broke it, but stayed close to it from the bottom side, making several attempts to breach it throughout February 2022.

It finally succeeded in the final days of the month, starting March 2022 with a massive surge that eventually led to an all-time high of $56.88 around March 30th. The project then saw a drop to nearly $50, only to see a recovery to its ATH twice on the first day of April. However, this also marked the last time Waves reached so high up, as a correction followed immediately after that.

Waves (WAVES) Climbs Back to $6.50 in a 10% Daily Surge

Starting on April 1st, the Waves price started to crash, and it did not stop going down throughout April, or even May of this year. This was when the sudden sell-off caused Waves to experience heavy issues, and the project crashed until the very end of May, when it finally reached the bottom at $4.19. The arrival of June brought a recovery to $10, but this resistance did not allow Waves to progress further up. Instead, it rejected its price right back down to $4, and the project then remained slightly above this level until June 21st, when it attempted to surge again, this time being stopped by a resistance at $7.

Over the next month, Waves price was fluctuating between $5, and $5.50 for the most part, and then things finally started to change on July 18th, when a surge took it back up, past the resistance at $5.50, and up to $6.50, which it reached only hours ago.

Since then, it corrected to $6.19, but even so, this means that Waves is ready to skyrocket as soon as the market allows it. With an 8-months-long crypto winter, the time for recovery might not be that far away which might be what led users to start buying WAVES again, thus boosting the token’s price back up.

To learn more visit our Investing in Waves guide.

Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.