Wanchain (WAN) Overview
Wanchain (WAN) aims to build a 'super financial market' by connecting distinct digital assets. Its key features are cross-chain interoperability, privacy, and smart contract functionality. Wanchain connects and facilitates the transfer of value between different blockchains in a distributed fashion. Public or private blockchains can integrate with Wanchain to establish connections between different ledgers and perform inter-ledger asset transfers. The Wanchain ledger supports not only smart contracts, but also token exchange privacy protection. Use cases of the Wanchain include asset transfers, loan origination, and credit payments. Wanchain is part of the Enterprise Ethereum Alliance (EEA) and Blockchain Interoperability Alliance (BIA). The latter comprises ICON, Aion, and Wanchain and has the shared goal of promoting interconnectivity between isolated blockchain networks.
Wanchain (WANBTC) Chart Signals & Analysis
Let's take a look at Wanchain here daily (D) and long-term weekly (W), let's see what we have.
Here is the weekly chart | WANBTC (W)
- First, we have a new All-Time Low, we like bottomed out altcoins because we have lower risk and higher potential rewards on the way up.
- Once we reach the bottom, the only place left to go is up.
- On this same chart, we can notice strong bullish divergence with the MACD and RSI.
The divergence is present with the MACD since May 2019 and since July 2019 on the RSI.
Let's take a closer look below, MACD:
- The purple arrow clearly shows the MACD going higher, we can see WANBTC going lower on the first chart.
Now the RSI:
- We have the same here with the RSI printing higher lows, bullish divergence but we also have an ascending channel. The RSI is starting to look bullish.
Let's take a closer look so we can spot our entry... Wanchain Daily Timeframe:
- On this chart, we can notice prices going below support after the Feb. 2020 price peak.
- Trading volume is really low on the drop and also after a new All-Time Low, signaling that the bears have no strength left.
- The RSI is strong/bullish above 50.
- The MACD is showing bullish divergence and a bullish cross (when the MACD line [blue] crosses up the Signal line [orange]).
- Prices just moved above EMA10 and challenging EMA50.
- Green trading volume starting to increase (still low/average). Above-average/high volume is needed to confirm a bullish move.
With many altcoins now strongly bullish printing great reversals once they reach new lows, Wanchain can also follow the same trend.
Finally, we have the zoomed out chart with all our mid-term targets as well as potential profits for this trade:
Now, let's trade!
Wanchain (WANBTC) Trade Numbers
Buy-in: 0.00001600 - 0.00001950
Next support: 0.00001300 - 0.00001550
1) 0.00002150 |Hit 26-May (+19%)
2) 0.00002550 |Hit 12-June (+42%)
3) 0.00003200 |Hit 24-July (+78%)
4) 0.00004250 |Hit 21-Aug. (+136%)
5) 0.00004950 |Hit 1-Sept. (+175%)
Potential profits: 1013%
(Price at writing 0.00001800)
Stop-loss: Close weekly (W) below 0.00001200
Capital allocation: <15%.
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