We’re running out of wave puns, but WAVES is still making moves! The token recently liquidated $13.75M after rallying over 70%.
Neutrino allows the creation of decentralized stablecoins that maintain their U.S. dollar-peg by. The protocol has launched just one stablecoin project so far, called Neutrino USD .
The supply of USDN increased from around 800 million to 832 million on a 24-hour adjusted timeframe, coinciding with the rise in the WAVES inflow into the Neutrino smart contract. That presented Neutrino as one of the active WAVES buyers in the past 24 hours.WAVES appears to have been breaking out of a bullish continuation pattern called a"bull flag."
In detail, the chart pattern looks like a downward sloping channel that appears after a strong price move upward . In a perfect scenario, it resolves by breaking out toward the level at a length potentially equal to the flagpole's size.Applying the classic interpretation of the bull flag pattern to WAVES' ongoing price action suggests a continued price rally toward $100, as shown in the chart below.However, WAVES' weekly relative strength index has turned overbought — a sell signal.
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