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Price Analysis

Daily Price Analysis for Wanchain (WAN) – September 28, 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: Bullish

The coin is bullish in its medium-term outlook.WAN was ranging in its medium-term outlook yesterday 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. The bearish momentum was low confirmed by the formation of bullish candles. The price was gradually pushed up toward the supply zone of $0.95.The bullish momentum was increased and the price was able to break the supply zone of $0.95.The coin is now at the supply level of $0.95.The first opening candle formed at the medium-term is bullish. There is a probability for the coin to continue in its uptrend movement. In case the Bulls increase its pressure, the supply level of $1.04 is the next target.

WAN

The price is above the 50-day EMA and 10-day EMA indicating the bullish movement of the price as the MACD with its histogram is above zero levels and its signal lines pointing to the north, thus signaling bullish movement.

WAN/USD Short-term Trend: Bullish

More buyers came into the market yesterday with full force as it was indicated on the 4-Hour chart with the formation of strong bullish candles. The supply zone of $0.095 was broken and WAN was exposed to the upper supply zone of $1.04. 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 high momentum. The bears lost the control of the market with the formation of bullish engulfing candles at the supply zone of $0.95 and the price moved to the north and broke out supply zone of $0.95.

WAN

The 10-day EMA has crossed over 50-day EMA upside and the price is above both10-day EMA and 50-day EMA, with the MACD histogram above zero level and signal lines pointing upward which indicates buy signal. Taking long today may be logical.

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