WAVES may be on the verge of a major price reversal, according to crypto analyst Michaël van de Poppe, who points to a long-standing support zone that’s been holding for over a year. In a recent market update, van de Poppe described the current chart as “beautiful” and suggested that a bullish breakout could be near.

According to the analyst, the $1.16 level has acted as a solid support base, with buyers consistently stepping in over the past 12 months. He explained that the key to reversing the current downtrend lies in breaking the descending resistance, something WAVES appears to be attempting.

“Uptrends begin the moment a downtrend is broken,” van de Poppe noted, adding that a breakout could trigger a wave of short liquidations and fuel a significant upward move. He referenced a previous breakout that saw WAVES rally to $2.50, implying that a similar or stronger move could follow in the current cycle.

As the broader crypto market shows signs of a potential bull run, WAVES may be positioning itself for a comeback. If momentum builds, van de Poppe expects higher price targets in the coming months.

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Filed under: Bitcoin - @ July 5, 2025 11:20 am