WANUSD ascending triangleWanchain is close to break out of the ascending triangle, making around 1.2 dollars the target.
Wanusdt
WANCHAIN - IS IT STILL ALIVE? OR HEADING TOWARDS GRAVE?WAN has been in the continuous long term downtrend since May starting and the price has depreciated by almost 87%.
It has been moving inside the falling wedge for quite some time now.
The price has been continuously getting rejected from the basis line of the Bollinger bands.
The price action is so weak that it is not even able to cross through EMA(12). (See the circles marked with Pink colour)
Now the price is at the lower boundary of the wedge from where it should try to move towards the basis line
of the Bollinger bands or atleast till the EMA(12)
If it does't rebound from here, it should fall to 1200-ish satoshi range. Alternatively, we the price is able to push a little bit up, it can reach upto 2k satoshi easily. In any case, we are possibly near to bottom. Get ready to open up some positions!
I'll keep updating this, as and when required.
P.S: This is not an investment advice. This is my personal journal. Invest your capital at your own risk.
Keep an eye out. Trade safely. Always remember, money not lost is also a profit.
Good luck trading.!
Peace.
What is happening to WAN? Will it Bounce?Wan is going down with no end in sight.. comparing to BTC, WAN is following a down channel south without any price history to make any valid argument on where the bounce might be. According to TD sequential indicator, we can expect a bounce very soon according to the oversold RSI, and TD sequential is a on 8/9 with an aggressive 13 some time before which indicates that we could have some relief near term.
