XRP, VeChain, and WAVES Price Analysis

XRP, VeChain, and WAVES Price Analysis: May As Bitcoin glided near its high liquidity range in the four-hour timeframe for the last 12 days,...

XRP, VeChain, and WAVES Price Analysis: May

As Bitcoin glided near its high liquidity range in the four-hour timeframe for the last 12 days, the market abstained from high volatility. The broader sentiment still lurked around the ‘extreme fear’ zone.

Thus, the near-term technicals of XRP, VeChain, and WAVES hovered in the bearish-neutral zone. The buyers still needed to inject volumes to gain enough thrust for exiting the tight phase.

VeChain (VET)

In gearing up their efforts to amplify the selling pressure, the sellers provoked multiple rallies while keeping control of VET’s peaks for over a month. The altcoin lost over 73% (from 31 March) of its value and plunged toward its 15-month low on 12 May.

After consistent tries to find a spot above the EMA ribbons, buyers were able to finally test the $0.33-level above the ribbons. But the recent evening star candlesticks pulled VET below its 20 EMA yet again.

At press time, VET was trading at $0.03168. After dropping from the 67-mark, the RSI took a solid plunge that plateaued near its equilibrium. A strong close below this mark could lead to undesired short-term losses. 

WAVES

WAVES rigorously fell since the beginning of April and pierced through critical price points. The altcoin lost over 91% of its value from 31 March and poked its 16-month low on 21 May.

While the $5.4-$5.6 range seemingly supported the recent retracements, WAVES bounced back and forth within the bounds of a down-channel (white). The Supertrend finally changed its position to depict a buying edge by turning green.

At press time, WAVES was trading at $5.66387. The RSI saw a bearish V-top and kept testing the 41-mark support for the last two days. Any fall below this level could hamper the near-term recovery prospects. On top of this, the ADX displayed a substantially weak directional trend for the alt.