Wanchain (WANUSDT) 24-Hour Market Overview

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Summary

• Price declined from $0.1229 to $0.1176, rebounded to $0.1219, showing support at $0.12 and resistance at $0.122.
• A sharp volume spike of 257,494 units on July 15th at 02:45 UTC marked increased selling pressure.
• RSI dipped into oversold territory (below 30) during the drop, suggesting potential short-term reversal.

Market Overview

Wanchain (WANUSDT) closed at $0.1212 as of 12:00 ET today, after opening at $0.1228. The 24-hour trading session saw a price range of $0.1176 (low) to $0.1229 (high). Total volume reached 1,036,713 units, with turnover totaling $4,720.

Structure & Formations

The price tested support at $0.12 before rebounding, while resistance at $0.122—near the session’s opening price—remains intact. No major candlestick patterns emerged, though a bullish engulfing near $0.1195 on July 15th hinted at potential buying interest.

Moving Averages

• 15-min MA: The 20-period MA ($0.1205) and 50-period MA ($0.1200) form a tight range, suggesting consolidation.
• Daily MA: The closing price remains below the 50-day MA (assumed $0.1215), indicating a bearish bias on longer timeframes.

MACD & RSI

• MACD: The line remains negative but showed a slight upward slope during the rebound, suggesting bearish momentum may be waning.
• RSI (14): Dipped to 25.4 (oversold) on July 15th, rebounding to 48.5, signaling neutral short-term momentum.

Bollinger Bands

Price touched the lower band ($0.1185) during the drop to $0.1176, indicating volatility expansion. Recent trading has centered near the middle band ($0.1200), suggesting contraction toward mean reversion.

Volume & Turnover

• Volume spikes: The $257,494-unit surge on July 15th at 02:45 UTC coincided with a sharp price drop, likely driven by profit-taking.
• Divergence: Lower lows in price were met with higher volume, suggesting stronger selling pressure than buying interest.

Fibonacci Retracements

• A 38.2% retracement ($0.1205) from the $0.1176 low to $0.1229 high acts as key support.
• A 61.8% retracement ($0.1212) aligns with the closing price, hinting at potential resistance.

Outlook & Risk

WANUSDT may consolidate near $0.1200 in the next 24 hours, but a breach of $0.1185 could test deeper support at $0.1150. Traders should monitor volume and MACD crossovers for confirmation of trend direction. Risk caveat: Volatility remains elevated, with potential for sharp swings if key levels fail.