• The market territory mark at $0.30 has assumed to be the critical point that the WAN/USD market bears may not find easy to break down in the subsequent trading sessions.
• A strong breakout of the 14-day SMA indicator may portend a clearer signal while buyers have set to take control of WAN/USD market.

WAN/USD Medium-term Trend: Ranging

• Distribution territories: $0.45, $0.50, $0.55
• Accumulation territories: $0.25, $0.20, $0.15

Visibly, there has been a line of variant lower lows in the market of WAN/USD barely over a week. The market has been fluctuating around $0.35 price line until now. The daily candlesticks that occurred showed top and bottom shadows to signify erratic moves in the market.

The 14-day SMA trading indicator has moved closer to the market point earlier mentioned. The 50-day SMA still trends flatly a bit over $0.40 point. The Stochastic Oscillators now consolidate around range 20.

The market territory mark at $0.30 has assumed to be the critical point that the bears may not find easy to break down in the subsequent trading sessions. Meanwhile, an attempt by the crypto-market to move down towards it will likely lead in seeing reversals that the bulls are expected to take advantage of to build their upswings afterward. A strong breakout of the 14-day SMA indicator will give a clearer signal while buying pressure is set to take the market’s control.

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.