Wanchain Technical Analysis – How Much Will WAN be Worth in 2021?

Recently, Binance announced that it will support Ethereum and Wanchain’s network upgrades and hard forks. With that said, people continue to be interested in what Wanchain has to offer and if it’s a good investment.

Wanchain is a public blockchain using Solidity as its smart contract language. “Wan” means “ten thousand” in Chinese. Thus, the brand name “Wanchain” translates to “ten thousand blockchains”. This makes sense when you consider that the goal of Wanchain is to connect “the world’s many isolated blockchains.

Now that we already have a brief background of what is Wanchain, let us see the charts below in this WAN 2021 price analysis.

WAN Technical Analysis 2021

As shown on the graph above, Wanchain (WAN) looks stable even after the crash of the crypto market. Although WAN is currently down 0.13% in the last 24 hours, the slight decrease can be a buy signal. As of writing, the price of WAN is at $0.8519 with a 24-hour trading volume of 2,246,483 USD.

Using the Fib Retracement on this chart, the Wanchain can reach above $4 within 2021 with its most bullish form surging over $6.

If this bullish trend continues, WAN may have the opportunity to break the Fibonacci level of 0.23, a bullish position. There is a big chance that this will happen as the market has been recovering very well from the past few week’s market crash.

Moreover, the bullish crossover seen in this moving average convergence divergence (MACD) indicates that Wanchain is ready to go up anytime this week. Clearly, this is the best time to buy WAN for crypto experts and even new traders.

This bullish prediction is also supported by the Relative Strength Index (RSI) at level 40 which shows it is neither overbought nor oversold. Meaning, traders can have that confidence without worrying about any major price reversal.

However, if anything goes wrong and the market has experienced another unexpected news like when China mulls over banning Bitcoin, and Tesla’s suspension of vehicle purchases using BTC, this can affect the entire crypto community.

On the other hand, the crypto world is back to its feet once again from its market decline. Hence, traders can expect WAN to move in a price range of $0.84 – $0.90 within a week, longest, a month. However, in its bearish possibilities, the price could go down at $0.83 in a worst-case scenario.

In Summary

The Wanchain (WAN) price analysis this 2021 may reach $4 to $6. With its MACD’s bullish crossover, the crypto has been set to a great mid-year upward tendency. Although WAN is currently down 0.13% in the last 24 hours, the slight decrease can be a buy signal.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Source: https://coinquora.com/wanchain-wan-technical-analysis-2021/