๐ $WAN /USDT - Technical Analysis on Binance ๐
๐ Current Price: $0.2187 (Down 8.72%)
$WAN has seen a significant pullback in the past 24 hours, offering potential opportunities for short-term traders in the Layer 1 blockchain space.
Key Levels to Watch:
24h High: $0.2415
24h Low: $0.2175
The price is currently testing support at $0.2175. If this level holds, we could see a potential bounce toward the high of $0.2415. A drop below $0.2175 may lead to further downside, with $0.2160 as the next support level.
Market Depth Insights:
Bid Price: $0.2186
Ask Price: $0.2160
The market depth indicates that buying interest is holding strong around $0.2186, but thereโs some selling pressure at $0.2187. A break below the support could signal further bearish momentum.
Volume Analysis:
24h Volume (WAN): 3.90M
24h Volume (USDT): 896,040.65
The relatively low trading volume in WAN suggests that the market is currently consolidating. An increase in volume could indicate a potential breakout or breakdown depending on price action.
Trend and Momentum Indicators:
The price is currently in a bearish phase after failing to sustain higher levels near $0.2415.
RSI: Keep an eye on the RSI for potential oversold signals. A bounce could be expected if the RSI indicates an oversold condition.
Whatโs Next?
Bullish Scenario: A strong bounce from $0.2175 could lead to a retest of $0.2415, and a breakout above this level could signal further upside.
Bearish Scenario: A drop below $0.2175 could open the door for further declines, with $0.2160 being the next key support level to watch.
๐ Trade Smart and Stay Informed!
WAN/USDT is at a key support zone. Monitor price action carefully for signs of a reversal or continuation.
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