✴️ Wanchain Consolidation Phase Ends | Let's Read The Chart

28 Şub

Welcome to Wanchain, the weekly chart.

➖ On the left side, between mid-2021 and late-2022, we have a correction/downtrend/bear-market.

➖ After the downtrend, WANUSDT price action becomes flat. This is marked on the chart by a blue sideways channel.

➖ A low point was hit November 2022, together with Bitcoin; with a higher low happening June 2023 and confirmation of this low October 2023, together with many Altcoins.

➖ EMA100 has been working as resistance since early 2023. This level prohibited WANUSDT from moving higher.

➖ After the October 2023 higher low, a bounce/relief rally happened and once more EMA100 worked as resistance. A higher low January 2024 and finally, this week early on, WANUSDT is moving above EMA100. If there were enough history on the chart, this would be the first time this pair moves weekly above EMA100 after a bear-market. Trading above EMA100 confirms long-term growth potential.

➖ At the same time the weekly RSI reads 64 (very strong).

These are strong signals.
These signals are pointing toward a sudden price jump.
This next or next week or the week that follows next week we should expect some fireworks.

It will be a great display, something not seen in years... Profits for all those who buy and hold the Cryptocurrency market Altcoins.

Namaste.