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Hourglass price analysis: WAIT to break above $0.328 resistance before a new uptrend?

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TL;DR Breakdown

  • Hourglass price analysis shows bullish momentum.
  • Strong support for WAIT/USD is present at $0.306.
  • Resistance is present at $0.336.

The Hourglass price analysis reveals a bullish trend today. The WAIT/USD price level has reached the mark of $0.328, showing weak bullish momentum. The price is on a gradual rise after getting rejected at $0.347. Mixed market sentiment has been observed for the WAIT/USD pair today as the price oscillation is slow.

WAIT/USD 1-day price chart: WAIT moves up from $0.328

The 1-day Hourglass price analysis shows bullish momentum is on the go, and a further price increase is expected in the coming hours as bulls continue to push higher. However, bulls lack the required strength, as is evident from the almost stagnant price movement. The WAIT gained a value of 7.55 percent during the last 24 hours, which is mostly due to the price hike yesterday, and trading volume has increased by 126 percent today.

wait1d.328 resistance before a new uptrend?" src="https://en.bitbili.com/wp-content/uploads/2023/05/frc-ffc5b33d0dbef21a9c946e6b11d02bd7.png">Hourglass price analysis: WAIT to break above <img decoding=.328 resistance before a new uptrend?" src="https://en.bitbili.com/wp-content/themes/justnews/themer/assets/images/lazy.png" data-original="https://en.bitbili.com/wp-content/uploads/2023/05/frc-ffc5b33d0dbef21a9c946e6b11d02bd7.png">
WAIT/USD 24-hours price chart. Source: Tradingview

The Bollinger bands show high volatility, with the upper band at $0.349 representing resistance, and the lower band at $0.272, making an average of $0.310. The moving average (MA) is at the $0.314 mark as it crossed above the SMA 50 curve. The relative strength index (RSI) is in the upper half of the neutral zone with a score of 52, but its curve shows a lack of momentum from either side of the market.

WAIT/USD 4-hour analysis: Recent developments and further technical indications

The 4-hour Hourglass price analysis shows bulls are slowly but steadily marching towards the resistance mark of $0.336 as green candlesticks appear on the chart, indicating bullish progress. The WAIT bulls are successfully moving ahead, as no bearish activity was noted today. However, selling pressure can appear as well, as the bullish trend seems weaker today.

wait 4h.328 resistance before a new uptrend?" src="https://en.bitbili.com/wp-content/uploads/2023/05/frc-2cfb93966f28498abdfa94cb41f2ab4a.png">Hourglass price analysis: WAIT to break above <img decoding=.328 resistance before a new uptrend?" src="https://en.bitbili.com/wp-content/themes/justnews/themer/assets/images/lazy.png" data-original="https://en.bitbili.com/wp-content/uploads/2023/05/frc-2cfb93966f28498abdfa94cb41f2ab4a.png">
WAIT/USD 4-hours price chart. Source: Tradingview

The volatility is slowly decreasing on the 4-hour chart as the Bollinger bands converge. The upper end of the Bollinger bands is at the $0.345 mark, and the lower band is at the $0.305 mark. The average of Bollinger bands is coming close to the value of $0.325 below the price level. The moving average (MA) is at the $0.326 mark. The relative strength index (RSI) is moving in the upper half of the neutral zone with much more room for bullish practice and shows a number of 53.

Hourglass price analysis: Conclusion

The Hourglass price analysis is bullish for today. The cryptocurrency’s price is still moving higher, but as the RSI curve is flat on both charts above, it can be a correction time, but to a limited degree. We expect Hourglass (WAIT) to remain afloat near the current price level of $0.328 today.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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