Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/em><\/p>\n With a market capitalization of $410 million, Waves<\/a> was ranked<\/a> 85th, at press time. However, the asset has seen far better days. In March, it traded near the $60-mark but has been in a pronounced downtrend since then.<\/p>\n At the time of writing, the $3.75-level was one to watch out for. A few days ago, the platform tweeted<\/a> about the Waves School<\/a> lessons and Waves believes it is a great step forward in introducing crypto and NFTs to the masses.<\/p>\n Source: WAVES\/USDT on TradingView<\/p>\n<\/div>\n On the 12-hour chart, the structure of WAVES was bearish and the downtrend was strong as well. The price surged in mid-September but it was still unable to beat the previous lower high. On a lower timeframe, the $3.7-pocket of liquidity had seen multiple candlewicks in the past month, followed by a decent bounce.<\/p>\n With time, these bounces weakened as the sellers gained more and more confidence following each retest. The past couple of days saw this zone flipped to resistance.<\/p>\n The indicators showed a bearish bias for WAVES as well. The RSI was at 36 and has been below neutral 50 for the better part of the past month. At the same time, the Directional Movement Index also indicated a significant downtrend in progress as both the -DI (red) and the ADX (yellow) were above 20.<\/p>\n Source: Santiment<\/p>\n<\/div>\n\n
Waves bulls routed as liquidity pocket is retested<\/h4>\n
![\"Waves](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/10\/PP-3-WAVES-price.png\")
<\/a><\/p>\nSentiment down, Bitcoin correlation doesn\u2019t help either<\/h4>\n
![\"Waves](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/10\/PP-3-WAVES-santiment.png\")
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