• The short-term is in the uptrend while the medium-term outlook is in a range-bound market.
• Patience should be exercise trading the consolidation.

WAN/USD Medium-term Trend: Ranging

Supply zone: $0.7000, $0.8000, $0.9000
Demand zone: $0.3000, $0.2000, $0.1000

WANUSD is in a range-bound market in the medium-term outlook. The coin has been in consolidation since 27th June. $0.3221 was the low while $0.3742 was the high during yesterday session. The bulls had control within the range as the market opens today at $0.3400 as they pushed the coin up to $0.3642.

The resistance at the 50-EMA may be broken in the medium-term with the signal of the stochastic oscillator pointing up at 56% which suggest upward momentum in price of the coin.

WANUSD is in consolidation and trading between $0.3900 in the upper supply area and at $0.3200 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

WAN/USD Short-term Trend: Bullish

The short-term outlook of the cryptocurrency is in an uptrend. The market opens on a bullish note at $0.33390 with a bullish spinning top. The cryptocurrency rose to $0.3585 as the bullish momentum increased breaking the resistance at the two EMAs.

With price up at $0.3642 as the bulls confirm the takeover and journey up north, the signal of the stochastic oscillator points up at 69% affirming the upward price movement in the short-term.

$0.3750 in the supply area is on the card as more candles open and closed above the two EMAs.

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