The 49th week of the year opens with more than 60% of cryptocurrencies in negative territory. To find a noteworthy rise, you have to slide to the 36th position occupied by Waves. Even today, in fact, the price of the crypto Waves continues to rise.
A rise of more than 70% from the values reached at the end of November, reaching the top five cryptocurrencies on a weekly basis with a +50% performance. Purchases on the crypto Waves are back following the return of prices to the levels of May 2017, losing more than 94% from the highs at the end of 2017.
The Waves project is among the oldest tokens listed on Coinmarketcap, it was launched in April 2016 raising over 30,000 bitcoins for a value of over $16 million. The decentralized platform offers Waves owners the ability to launch custom tokens even without any technical know-how in order to facilitate trade in digital and physical goods.
With over 1 million transactions per second, as stated by the team headed by Russian physicist Sasha Ivanov, Waves is among the best and most performing blockchain currently used.
Despite the unhappy period, today the Waves token is multiplying more than eight times its value from the ICO price.
With $352 million and the launch of only 51 new ICOs, November closes with the lowest collection of funds since the beginning of the year.
The number of listed cryptocurrencies also fell again. After reaching 2100 crypto at the beginning of November, the last month of the year opens with 2073 cryptocurrencies listed by Coinmarketcap.
Last year, the month of November recorded a slight decline in collection of funds after the two previous months of September and October, before witnessing the explosion that occurred in December with 91 new ICOs that led to the collection of over 1,778 million dollars.
For the rest, in the top 20, only Ethereum Classic (ETC) manages to turn green by climbing more than 3% from yesterday morning levels.
The rebound between Tuesday and Thursday (Nov. 27-29) last week does not find the right confirmation to bring back new purchases.
After exceeding 4400 dollars on Thursday, November 29th, and leaving behind the indicators related to overselling, the volumes have deflated bringing with them the prices back to test the technical and psychological threshold of 4000 dollars.
In the next few hours, it will be decisive to keep this level to assess the consistency of this rebound. In the case of a sinking under 3900 dollars, sales would return to prevail by increasing the probability of a downturn below 3600 dollars. Only a return above 4400 dollars will bring back new purchases.
The yet another failure of the consolidation above 120 rejects the prices in the 110 dollars area.
The weakening of the short-term technical structure finds in the 108-110 dollars area the divide between purchases and sales. A fall below these levels will encourage the return of the Bears supported also by the recent decreasing volumes but well above the average of the last year.
On the other hand, the return of prices above the $130 area will give new impetus to the Bulls who remain fearful.