Wanchain has announced its highly anticipated hard fork happening on April 15, which will provide full Ethereum integration. This comes after a couple of weeks packed with exciting news for Wanchain, from the partnership with top Global Fortune 500 company State Grid China to the launch of NFTs on the Wanchain ecosystem, to the imminent XRP and DOT integration. The fork and the other highly positive news will inevitably reinforce the already bullish pattern that Wanchain is on. We envision two possible scenarios for WAN: a parabolic growth which will take it to the $3 range around April 12, or a break out of the bullish pennant with a subsequent small correction resting on the previous resistance line as support, to reach the $3 range around April 15-16. This is not financial advice.
Trade active:
Bounced off nicely at the previous line of resistance, as per the second scenario. Taking a bit longer than previously thought but it's on trend and I still expect it to reach target. Not financial advice.
Trade active:
After the crypto-wide drop, Wanchain still looks strong. Very evident bullish divergence in the 15m RSI and an inverse head and shoulders seems to be forming, to be confirmed at the break of the neckline. Today's news about the central bank of China's intention to adopt crypto as an investment instrument has pumped Chinese coins and should continue to do so as more news around this topic is released.
Comment:
BTC very uncertain right now, if it closes the daily below the 100 EMA it will probably go lower, in the low 40s/high 30s range. Sold part of the position and waiting to buy back cheaper, will make another chart when there is more certainty about BTC movements. Bull market far from over IMO, overall direction still upward. Not financial advice.