Wanchain (WAN) continues to exhibit a bearish trajectory while approaching a significant resistance zone at $0.1150. Current market conditions remain volatile, with attempts at short-term recovery failing to yield substantial trend changes.
Bearish Liquidity Pattern Builds Below Resistance
As WAN prices inch toward a supply area, potential sell-offs loom. Analyst Crypto Patel highlights the key liquidity zone forming between $0.1050 and $0.1150, indicating strong resistance due to previous sell-offs.
Historical Price Action Reinforces Bearish Structure
According to CoinMarketCap data, WAN reached above $10 in 2018 before dropping below $1 by 2019. Although there were brief surges above $1 in 2020 and 2021, sustained upward movement has not materialized, reinforcing a downward trend since mid-2021.
Future Prospects for Wanchain
Currently, the support range between $0.10 and $0.20 continues to attract traders’ attention, yet no signals of bullish divergence or reversal patterns appear on the charts. Overall, price action remains tightly bound under long-term resistance.
The situation surrounding Wanchain remains complex, and the project must overcome current resistance to catalyze a bullish trend.
