Wanchain (WAN)
Wanchain is a decentralized blockchain interoperability solution that aims to drive blockchain adoption through interoperability. The project aims to build decentralized bridges to connect the various blockchain networks. With this cross-chain infrastructure, developers are empowered to build cross-chain dApps for the wider DeFi community.
Wanchain has been building its cross-chain infrastructure since 2017 and has launched a decentralized BTC-ETH direct bridge in early 2021. Wanchain also offers decentralized bridges connecting Bitcoin, Ethereum, Ripple and EOS, and plans to support other chains such as Polkadot. Wanchain’s cross-chain bridges are supported by unified decentralized collateral pools.
1. Basic Info
| Symbol | WAN |
| Name | Wanchain |
| Web Site | https://wanchain.org/ |
| Explorer | https://www.wanscan.org/,https://wan.tokenview.io/ |
| Supply | 198469316 |
| Total | 210000000 |
| Market Cap | 45721812.8502706 |
| White Paper | https://www.explorewanchain.org/#/ |
| Release Date | 2017-10-03 |
2. Technical Analysis
2.1 Kline Price Chart
2.2 Analysis
The current analysis of the provided K-line daily chart indicates a trend of consolidation within a range. The price has been fluctuating within a relatively narrow range for the past several weeks, suggesting that there is no clear directional momentum either upwards or downwards. The volume, however, has been decreasing over the past few days, which may indicate a lack of interest or indecision among traders.
The closing prices have been hovering around the middle of the trading range, with the price occasionally breaching the upper and lower bounds but failing to sustain these movements. This behavior suggests that the market may be waiting for a catalyst to initiate a new trend.
The pattern of the price action over the past few days is notable for the narrowing of the trading range, which could be indicative of a potential trend reversal or continuation. The recent bearish candlestick patterns, such as the doji and the bearish engulfing, suggest that bearish sentiment may be building up.
Considering the above observations, the conclusion is as follows:
- The market is currently in a consolidation phase with a narrowing trading range.
- The volume has been decreasing, indicating potential indecision or lack of interest.
- There are bearish signals in the recent price action, which may suggest bearish sentiment.
- A potential trend reversal or continuation is likely to occur in the near future.
