Coins

WANCHAIN Price Prediction Today: Daily (WAN) Value Forecast – June 26

Azeez Mustapha
June 26, 2019

The short-term outlook is in a range-bound market while the medium-term is in the downtrend.
Patience is required in the short-term for a defined trend.

WAN/USD Medium-term Trend: Bearish

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

WANUSD continues in a bearish trend in the medium-term outlook. The bears manage to push the coin to $0.4200 in the demand area during yesterday session before a brief loss in momentum. The bulls made a gradual retuned before the close of the market with price up at $0.4043 around the 50-EMA.

The bulls maintained a hold of the market as it opens today $0.3708. Increased bullish momentum shot the coin up to $0.4591 in the supply area. This area is the 61.8 fib a trend reversal zone. It thus suggests a change in trend to the downtrend.

The bears may resume the downward movement in the medium-term as divergence is seen between price and the stochastic oscillator. Its signal points down at 43% an indication of downward momentum in price.

$0.3507 in the demand area is the bears' initial target for a retest as it journey down south.

WAN/USD Short-term Trend: Ranging

The short-term outlook of the cryptocurrency is in consolidation. $0.3665 in the demand area was the low while $0.4002 in the supply area was the high of yesterday range.

The bulls had dominance as the market opens today at $0.4002 with a bullish doji candle. Increased bullish momentum led to a breakout at the upper supply area. WANUSD rose to $0.4579 and closed within the range with a long wick.

The signal of the stochastic oscillator points down at 43% an indication of downward movement within the range in the short-term.

$0.4200 is the upper supply area while $0.3600 is the lower demand area of the range. Patience should be exercised for a breakout at the upper area or a break down at the lower area with a retest before a position is taken.

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

Azeez Mustapha

Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.