Maker, Tezos, Waves Price Movement Analysis for 17th February 2021

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 At the end of the day, Maker was supposed to trade within a set channel until there was a strong pattern in its market. Tezos was in danger of a prolonged sale after its price had fallen below the 50-SMA. Waves started on its downtrend after snapping a local high of three years.

Maker [MKR]

MAker was moving in range-bound, at press time, noticing a lack of clear traction on either side. The MACD was bearish-neutral, while the Stochastic RSI was south-facing. The breakout did not seem possible in the next few sessions, with Maker expected to shift inside its fixed channel before a strong pattern emerges.

A increase in buying and trading volumes would be required to break over a high $2,570 resistance line. Conversely, a pullback in the wider market might see MKR move below its press time support line.

Tezos [XTZ]

Source: XTZ/USD, TradingView

Unlike most other altcoins on the market, Tezos traded in red at press time, having dropped its price by more than 2% in the last 24 hours. There was a possibility of another sale at a press time price of $4.45 as the candlesticks moved below the 50-SMA (red). A fall below the press time support level will present the next defensive line at $4.1.

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The red bars of the Amazing Oscillator moved below the half-line as the momentum settled with the sellers. Stochastic RSI, on the other hand, witnessed a bullish crossover in the oversold zone. The bullish result will see that XTZ could rise over the $4.6-mark on the charts.

Waves [WAVES]

Source: WAVES/USD, TradingView

The Parabolic SAR dotted markers highlighted the downtrend of Waves after the cryptocurrency snapped the local peak at $12.9. At the time of the press, the market bulls kept on to the $10-mark after the pressure of purchasing had picked up. In addition, the RSI settled below 50 as the price attempted to rebound on the charts.

A favourable result may have seen WAVES rise to $11.3 above its upper ceiling. If the downtrend persists in the next few sessions, the next level of support will be $8.9.

 

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