w4 should reverse into wave 5 around $1.60 give or take 10%. Then $14-$34 rapidly driven by non liquidated user loans on binance $25k per account or something of that style.
$1.60 was Binance accumulation zone prior to futures listing. Probably hard bottom also covering futures gap in that zone.
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What always irritates me about Waves is the high price volatility compared to other similar platform coins. Within two months the price has risen by 100% and then fallen by 100% again. And this in a comparatively stable crypto market environment. I've been holding Waves since the ICO, even though I've already sold a bigger part of it in the meantime, I still think the project is great and progressive.
It's basically impossible to leverage long this crypto at anything above 1:3 unless you time perfectly local bottom which then transitions into some kind of decent uptrend such as the recent $2.07 which is now a bit higher. Still, that position can be wiped out in a few hours if waves throws a tantrum.
This is why Binance or waves itself should fractionalize lending where user puts down 5% to get a x20 with fixed monthly repayment.
Binance can do this easily by scooping up everything below $11 then enabling this loan at $17, witness rapid trajectory towards $34-58 then unload for profit and rebuy at $11 to solidify control over waves, all the while generating monthly interest from user loans which can be as high as 20-30% yearly.