Waves is one of those 'ancient' coins, which basically means it was created prior to the 2017-18 blow off top. We can tell easily from looking at the chart that this coin has some history and it goes beyond being a simple pump-and-dump scheme. Not a one time scheme, at least.

The project itself is very similar to Ethereum, it's a Turing complete virtual machine that operates alongside a blockchain to secure the network. If you compare the two charts, it's pretty easy to see which one the market has decided to go with.

This coin's price fluctuations are tied pretty much in lockstep with the temperature of the crypto market, which you can verify by correlating the peaks with the crypto market valuations as a whole.

To get to the point, which is the technical analysis side of things, we've kept it pretty simple, there is a zone marked between 1.86-.197 that has acted as a significant pivot point in the past, that this time around has held as support. Additionally Waves is currently breaking to the upside of a sideways triangle.

If we were to measure the pattern objective, we would start by measuring the June-July pump that marked the rejection and continuation of the descending trend line. That distanced based from the breakout point reaches the mid $5 range which marked macro resistance during the 2017 bull market and was also where the market broke down during the FTX collapse.

Since it's currently breaking out, I am going to leave it here and get this published. Still a long way to go, however. Pace yourself.