• The short and medium-term outlook is in a bearish trend.
• Responsible selling at key area may be considered.

WAN/USD Medium-term Trend: Bearish

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

WANUSD is in the downtrend in the medium-term outlook. The bears' pressure on price was lost at $0.4190 in the demand area after breaking the two EMAs before the end of yesterday session.

The wicks of the candles at this area was an indication of bearish exhaustion and bulls’ gradual takeover.

The bulls full takeover was evident with the formation of a bullish candle as the market opens today at $0.4297. WANUSD rose to at the trendline and closed a bearish spinning top at $0.4574.

A bounce to the downside is imminent as price hovers around the two EMAs. A drop to $0.4000 in the demand area is the bears' initial target in the medium-term.

WAN/USD Short-term Trend: Bearish

The short-term outlook of the cryptocurrency is a bearish trend. The break out at the 10-EMA resistance signaled the bullish takeover after today opening session. Price rose further to the 61.8 at $0.4548 in the supply area. The fib is a trend reversal area.

With price down at $0.4298, below the two EMAs and the stochastic oscillator signal pointing down at 65%, these imply a downward movement in price of the cryptocurrency with $0.4100 as the initial target.

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