WAN Price Analysis: Wanchain below $0.9211, set to breach?

WAN Price Analysis

TL;DR Breakdown

  • WAN price analysis is sluggish for today, up by $1.19%.
  • WAN/USDT price action found resistance at $0.9211.
  • WAN/USDT nearest support is present at $0.8838.

WAN price analysis today is sluggish as the price rose by 1.19%. The previous daily candle closed at $0.9027, while according to data by CoinMarketCap, the trading volume fell by 19.27%, currently at $3.8 million.

On the other hand, the price action has remained bullish for the month of October, up by more than 20%, with a monthly high of $1.03. The previous monthly candle closed at $0.7574 with a monthly high of $1.33.

The current price of the WAN token is more than 90% from its all-time high, and with a 1.93% in market cap, the token is ranked at #311 in the market. This turns the entire price action bearish in the long term.

WAN price analysis using the technical indicators on the daily chart

The WAN price analysis on the daily chart below shows that the price action is currently above the 100- day Moving Average while testing the 50-day Moving Average as the price support.

The Bollinger Bands are turning narrow, indicating a decrease in volatility. The current price action is trying to move upwards and enter the bullish region of the Bands.

WAN price analysis
WAN price analysis on the daily chart by TradingView

WANChain price analysis using the RSI indicator shows that the token is entering the bullish region, with a value above 50. The gradient is positive, meaning higher prices are possible.

The MACD indicator shows that the orange line (signal) is trading above the MACD line, and we can expect lower lows in the short term. The histogram turned red following a bearish divergence.

WAN Price Analysis: Wanchain below $0.9211, set to breach? 1
WAN price analysis on the daily chart by TradingView

WAN price analysis: Conclusion

The WAN price analysis can be concluded on a sluggish note for today as the resistance at $0.9211 remains while the bulls and the bears fight for control. Until a decision is made, look at our price prediction for a better understanding of the long-term performance of tokens.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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