It is staying in this falling wedge for a while now. Since the beginning of May, but not visible in this screenshot. Triangle is getting more tight and it looks it will break-out on enough volume. Maybe the new wallet release and Wanchain 2.0 planned on or before end of June will trigger this break-out.
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I think it is forming a bull flag at the moment.
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The flag in my previous screen was based on multiple 1h bars. If drew the line based on the first two 1h bars (since it went down again) it looks this way (dotted line).
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Not going as expected on the short term view. My scenario is that it is going to test the resistance it broke yesterday as new support. Fingers crossed and hold some longer.
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BTC ruined the party (of all alts). But seems to stay the triangle. Mainly up to BTC what is the next step. P.s. I'n not a professional TA specialist. Please do your own research and look at other ideas.
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Zoomed in
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I will cancell this idea. It was not going how I expected, but mainly because of BTC which is still bearish. For the long term I think you can make a lot of profit. I will hold my WAN for the longer term. Short term I see it going up until the upper red line. Maybe down again after touching it. But on good news, and when BTC has hit the real bottom, it will break the resistance and we will go up (fast). My latest screen where I redraw the bottom red line.