RATE Group | Trade Recommendation: Qtum/Ethereum | Hacked: Hacking Finance
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Trade Recommendation: Qtum/Ethereum | Hacked: Hacking Finance

30 Aug Trade Recommendation: Qtum/Ethereum | Hacked: Hacking Finance

Posted at 14:22h in Ethereum News by

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The Wanchain/Bitcoin (WAN/BTC) pair went as low as 0.0000971 on August 14, 2018. At that point, the altcoin was down by over 90% from this year’s high of 0.0010753 on May 3.

While this may look scary to many retail investors, it’s actually a good idea to be a contrarian. WAN/BTC has lost so much over a three-month period that bears should most likely be exhausted. That’s what we’re seeing right now.

Technical analysis shows that WAN/BTC has breached resistance of 0.000145 on August 25. This triggered the breakout from the large falling wedge on the daily chart. It appears that the fall to 0.0000971 attracted bottom pickers and bargain hunters. This helped the market gather the volume and the momentum needed to finally reverse its trend.

Speaking of volume, WAN/BTC registered extremely high volume a day after the breakout. The pair has not reached that volume level on the daily chart since April 13, 2018. This tells us that bullish sentiment is back….

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