Wanchain – Portfolio Recommendation with Fundamental & Technical Analysis

Wanchain – Portfolio Recommendation with Fundamental & Technical Analysis

ICO Projects technical analysis
June 23, 2018 by Ben Riley
1358
Wanchain 2.0

Overview

Wanchain (WAN) is rebuilding finance with private cross-chain smart contracts. It aims to connect the worlds digital assets by creating a new distributed financial infrastructure. Cross-chain smart contracts built on Wanchain will power the new digital economy. With the number of coins, tokens, and blockchains increasing rapidly in the Cryptocurrency space, there is a need for an effective way to exchange information between one-another. Through their own independent blockchain, Wanchain will be able to connect chains and provide a framework which can facilitate such tasks. Aside from cross-chain compatibility, Wanchain has various capabilities in privacy protocols and financial applications.

Wanchain was initially created as a fork of Ethereum but runs on its own blockchain. Therefore, the coin (WAN) is not an ERC20 token. The vision of Wanchain is to establish a digital economy and financial infrastructure whilst considering the digitalisation of assets and new opportunities that can be explored with blockchain technology. The application possibilities of Wanchain includes decentralised exchange, asset management tools, and ICO crowdfunding.

Fundamental Analysis

Wanchain (WAN) is a fundamentally sound project which has great long-term potential. In the short term, there are various scheduled releases and updates for the project throughout 2018 and 2019. This will offer great opportunities to capitalise on the price movement. This month (June 2018) as per (coinmarketcal.com), the release of Wanchain 2.0 will occur. This event will be a significant milestone for Wanchain as the integration for Ethereum and a multi-coin wallet will be added to the network.

Wanchain 2.0

Technical Analysis

The price of Wanchain (WAN) is very appealing right now at around 4700 Satoshi’s in WANBTC at Binance exchange. This price aligns with a previous support established at the beginning of April 2018. April was a great month for (WAN) after reaching a peak at around 10000 Satoshi’s or a gain of approximately 120%.

Wanchain 2.0 analysis

As per the charts, there is a very good potential trade available if the price can break above 5000 Satoshi’s. Wanchain (WAN) has been in a descending channel since the start of May 2018, but with the RSI gaining some traction and the MACD putting in a bullish cross on the daily; combined with the strong fundamental news, we can expect the price to trend upwards.

Conclusion

To make the most of this opportunity, pick your entry point strategically and be sure to set a stop-loss. Wanchain (WAN) can easily reach 6000 Satoshi’s in the short term. Trade responsibly, this is not financial advice.

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