Waves Price Prediction, April 2024

Crypto Asset Report: WAVES

Executive Summary

After analyzing the historical price data, latest news, and AI price forecast for WAVES, I believe the token is heading into a period of consolidation and sideways trading in the short term, with potential for gradual downside. The AI forecast predicts a steady decline in price over the next year. While Waves has had some positive developments, the macroeconomic environment and lack of major catalysts lead me to a neutral to slightly bearish outlook. Investors should HOLD existing positions but avoid adding more at this time.

WAVES Price History

Looking at WAVES price history since November 2021, a few key trends emerge:

• WAVES experienced a massive price spike in late March/early April 2022, reaching an all-time high around $62 before rapidly crashing back down

• Since May 2022, WAVES has been in a steady downtrend, making lower lows and lower highs

• The price decline has accelerated in recent months, with WAVES losing over 50% of its value since November 2022 and now trading around $3.11

• There appear to be no clear support levels established during this downtrend for the price to bounce off of

Overall, the price action looks quite bearish, with little sign of reversing the downtrend yet. It seems the speculative mania has faded and WAVES is searching for a bottom.

AI Price Forecast

According to Nixtla's TimeGPT model, WAVES is forecast to continue declining over the next year, reaching a low of $2.46 by June 2024. While remaining somewhat volatile week-to-week, the overall trajectory is downward.

I believe this forecast is reasonable and aligns with my own analysis of the price history. The downtrend looks likely to continue in the near-term absent any major positive catalysts. However, the forecast may prove overly pessimistic if the crypto market enters a new bull cycle and altcoins like WAVES see renewed interest. A 20-25% further drawdown from current levels is within the realm of possibility though.

WAVES Latest News

My search did not return any recent, market-moving news stories for WAVES. The token does not appear to have any major events or developments occurring at this time that would significantly impact the price action.

Price Prediction and Outlook

Based on the historical price action, AI forecast, and current news environment, my prediction is that WAVES will trade between $2.50-$3.50 for the remainder of 2023. I expect the current downtrend to continue in the short-term, with WAVES potentially retesting the June 2023 lows around $1.50. However, I don't foresee a total capitulation and believe some support will emerge in the $2-$3 range.

Longer-term, I think WAVES will continue to face selling pressure and gradually grind lower per the AI forecast, unless a new crypto bull market emerges. The lack of major adoption, partnerships, or ecosystem developments makes it hard to be too bullish. That said, the strong community and unique architecture of WAVES means it may bounce back stronger if overall market sentiment improves.

Investment Recommendation: I recommend that investors HOLD current WAVES positions but not add to them. The risk/reward of opening new positions is not favorable at this time. However, long-term investors can consider holding WAVES as a small speculative position in a diversified crypto portfolio. Active traders should wait for signs of the downtrend reversing before considering new entries. Risk-averse investors may consider reducing exposure to limit further downside risk.