Currently, wanchain has tested ( and failed) to break out of the ascending change it has been in since the start of this bull run ($1.60+)
We have seen a small pullback and currently sitting at $1.36. As you can see in the chart below wan has established itself in a bullish pennant pattern!
There are two possible moves from this point!
Bullish: we break to the top side of the pennant resistance (top red line) - a break here will force a retest of the $1.60 level and will most probably result in a break and run to the $2 range (or very close to it)
Bearish: we break to the downside of the pennant support (bottom red line) - a break here will force a retest of the $1.16-1.18 major support range.
Depending on how bitcoin performs in the next hour will help confirm the market direction of wanchain!
For people who are not in wanchain wait for a break of the resistance pennant line ($1.42-1.44 range) before buying the bull case - or set a buy order at the $1.17-1.18 support
For holders keep a close eye on the charts and set alerts at 1.34usd and $1.44 usd to notify price movements