• WAN/USD has been coming up with different ups and downs in a range.
• Traders in the WAN/USD market should be wary of bulls’ trap while a sudden price hike emerges in the market.

WAN/USD Medium-term Trend: Ranging

• Distribution territories: $0.50, $0.55, $0.60
• Accumulation territories: $0.25, $0.20, $0.15

WAN/USD market has been featuring variant lengths of ups and downs in a range in the last few days of trading. On June 26, the pair very slightly attempted to touch past $0.50 mark. After a pull-back that resulted from that market’s point, the crypto fell downwards to approach a low value at $0.30 horizontal line.

The 50-day SMA trend-line has been intercepted by the 14-day SMA from the top. And, the market has continued to hover around the smaller SMA trading indicator. The Stochastic Oscillators have conjoined hairs to consolidate around ranges 40 and 20.

The WAN/USD trade now looks mostly losing out in strength, especially while making an effort to swing upwards in the market. The fresh interception of the two SMA trading indicators has also pinpointed the potential of seeing the bears taking the ride of the crypto-trade in the next trading sessions. Traders should be wary of bulls’ trap while a sudden price hike emerges in the market.

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.