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Price Analysis

Daily Price Analysis for Wanchain (WAN) – September 27, 2018

Daily Price Analysis for Wanchain (WAN)

Supply zones: $0.95, $1.04, $1.11

Demand zones: $0.84, $0.80, $0.76

WAN/USD Medium-term Trend: Ranging

WAN started ranging in its medium-term outlook between the supply zone of $0.95 and the demand zone of $0.84 when it could not break the support level of $0.84 downward 48 hours ago. The bearish momentum was low confirmed by the formation of bullish candles. The price was gradually pushed up towards the supply zone of $0.95.The price was ejected towards the demand zone of $0.84. Currently, the coin is above the demand level of $0.84. There is a probability for the coin to move down to retest the demand zone of $0.84. In case the bears lose its momentum and the Bulls increase its pressure, the supply level of $0.95 may be broken to the upside and the price resume its uptrend movement.

WAN

The price is below the 10-day EMA and 50-day EMA the price suggesting the bearish movement of the price as the MACD with its histogram is below zero levels and its signal lines interlocked to each other, thus signaling indecision and continuation of ranging.

WAN/USD Short-term Trend: Ranging

WAN is ranging within the range bound of $0.95 and $0.84.The coin consolidated yesterday at the demand zone of $0.84 after which the bulls pushed the price towards the supply zone of $0.95 with slow momentum. The bears took over the market with the formation of bearish candles yesterday at the supply zone of $0.95 and the price moved to the south towards the support zone of $0.95.

WAN

The Price is ranging between the supply zone of $0.96 and the demand zone of $0.84. The price is on the 10-day EMA and 50-day EMA is above the price with the MACD signal lines pointing downward which indicates sell signal. Traders should exercise patience as the price may continue its consolidation temporary.

 

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