Price Analysis

Daily Price Analysis for Wanchain (WAN) – September 25, 2018

Daily Price Analysis for Wanchain (WAN)

Supply zones: $1.03, $1.11, $1.21
Demand zones: $0.99, $0.96, $0.84

WAN/USD Medium-term Trend: Bearish

The cryptocurrency was trading within the supply zone of $1.03 and the demand zone of $0.99 yesterday. broke out of the ranging channel two days ago. It could not break upward the supply zone of $1.03. and the bullish pressure was lost confirmed by the formation of bearish candles. The price was pushed down to the demand zone of $0.99.The price bounced and currently moving towards the supply zone of $1.03. The coin is above the demand level of $0.99. There is
a probability for the coin to move upward towards the supply zone of $1.03. In case the bears lose its momentum and the Bulls increase its pressure, the supply level of $1.03 may be broken to the upside and the price resume its uptrend movement.

The price is below the 10-day EMA while 50-day EMA is below the price suggesting the bearish
movement of the price as the MACD with its histogram is below zero levels and its signal lines
point downward, thus signaling a downward movement.

WAN/USD Short-term Trend: Bearish

WAN on the short-term formed some bearish candles at the supply zone of $1.03 which indicates the influx of the bears into the market, the price was rejected at the supply zone and moved to the south towards the support zone of $0.96.
As at present, the Price is on the demand zone of $0.96.


Should the sellers increase their pressure and break down the support zone of $0.96, the price will be exposed to the support level of $0.84.The price is below 10-day EMA and 50-day EMA with the MACD below zero regions and signal lines Pointing downward which indicates sell signal. Taking a short position today may give some green pips.

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