Waves is a blockchain ecosystem that functions as a DEX to assist in the development of decentralized Web 3.0-based solutions.
While the Ukraine-Russia crisis, which was on the agenda, continued, the positive effects were reflected in the price, as the sanctions and the freezing of SWIFT systems for Russia, the orientation to this area due to the decentralized system of cryptocurrencies.
Based on the approximately 150% increase in Waves coin and the latest news:
Waves, a blockchain platform that emerged based in Russia, wanted to impose a sanction on freezing the accounts of all Russian citizens for cryptocurrency exchanges made by Ukraine. However, Binance, one of the crypto exchanges, rejected the request in this direction. With this announcement, there was a sharp rise with strong buyer volume on the waves side, which has been in a downtrend for a long time.
As the relevant time frame, we see that it continues to move within a falling channel since October in daily time. However, it found support at the $8.45 levels and managed to break the $11 and $12 resistance bands, which are an important resistance zone with the effect of the news.
It is currently at an important resistance level again. With the close above the $20.36 region and holding above this region, the upper resistance area can be targeted. Otherwise, it may pull back to the fibo level, which is the correction zone and the support area.
Technical data can be followed along with the process of the crisis, especially for this altcoin, in the following time frame.