Traders Uplifts Waves Price To New highs, While Bitcoin Price Consolidates
Will Waves Price Reach $50?
Waves price initiated a rally a month ago from the levels around $10. Since then the asset has gained nearly 313.8% growth in a very short span of time. Moreover the recent 78% jump in the price from the past couple of days has bought the asset on spotlight.
The recent updates on the Waves platform concentrating on new node release and smart contracts may be one of the major reasons for the surge. The waves formed a couple of bull flags which signifies a bull rally.
Therefore if the price follows the previous trend, then another bull run might be underway. And hence on the next leg up, the price can eventually smash new ATH close to $50.
Ethereum Price Rises, Yet Bitcoin Price Still Consolidates!
Ethereum in the past trading day raised many eyebrows with a magnificent rally and smashing new highs above $3000. The price sustained a couple of pullbacks, yet eventually resumed with the bull run.
On the contrary, the Bitcoin price appears to have been struggling to gain the lost momentum required to rally like a beast. The declining dominance rate and ETH trading volume surpassing the BTC volume, point out towards the initial phase of an altcoin season.
Yet the ETH price rally is expected to surge with remarkable margin, pointing out towards an intensified Altseason. A popular il Capo of $NOIA, had earlier mentioned that if BTC dominance falls below 50%, then the altcoin season would continue. Else with a strong bounce back in the dominance rate would pause the season.
Therefore, with the dominance falling to the lowest ever levels since 2018, the analyst believes the altseason is in its place. But however, due to the fact that many real time projects are thriving to boom in the crypto space, Bitcoin dominance is not expected to visit the levels less than 2018. And hence a strong bounce back may be on the cards as the race between BTC and Alts is very much different currently compared to that of 2018.
Collectively, the Waves price after a consolidation for a speculated time frame is expected to bounce back to hit $50. On the other hand, Ethereum price is also expected to form new highs strengthening the Altseason of the year. In the due course, BTC price is expected to trend sideways, yet for a stipulated time.