• WAN now trades against the US dollar at an all-time low trading mark at $0.0030.
• Should the bears consolidate stronger ever than before, the pair’s journey further to the south is in the offing.

WAN/USD Long-term Trend: Bearish

• Distribution territories: $0.50, $0.60, $0.70
• Accumulation territories: $0.2, $1.50, $0.1

WANCHAIN has been relatively overwhelmed by the US dollar to now trade at an all-time low trading mark at $0.0030. The US dollar in its consolidation moving effort has once again had the market advantage to itself so that the current point is at the verge of experiencing further drawdown.

The 50-day SMA indicator is now located at $0.40 mark over the 14-day SMA. The Stochastic Oscillators have moved into the oversold zone a bit below range 20. That may lead in witnessing a consolidation movement eventually in the region.

As being a usual price movement phenomenon of the WAN/USD market, it could be expected of the pair to rally against further depressions at the $0.0030 mark. However, if the bears, this time around chose to consolidate stronger ever than in the past, the pair’s journey to the south could be said to be in the imminent loss of trading at a lower spot of around $0.20 mark or a bit below.

Wanchain:

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.