🚨 Trade Signal ($WCT /USDT):
Status: Sell/Short $WCT
Entry Zone: $0.89 – $0.92
Target 1: $0.72
Target 2: $0.58
Stop Loss: $0.96
Risk/Reward Ratio: ~1:5 👇👇
Technical Analysis:
Price Surge: WCT has spiked nearly +38.55%, reaching a local high of $0.9520, indicating an overheated move.
Bearish Divergence Risk: The RSI (not shown here, but implied from the vertical price movement) is likely approaching overbought territory, increasing the probability of a short-term correction.
Candle Pattern: Today's long bullish candle followed by a projected yellow arrow downward hints at an expected reversal. This suggests market participants may start taking profits.
Volume Spike: Sharp increase in volume supports the move up, but such volume often precedes exhaustion when paired with large candles.
Moving Averages:
MA(7): $0.6741 – recently broken upward, showing short-term strength.
MA(25): $0.5342 – lagging far below, indicating an extended move.
Price is significantly overextended from both short and mid-term MAs – a mean reversion toward $0.71 or even $0.58 (support zone) is likely.
Key Levels:
Resistance: $0.95 (today’s high)
Support: $0.72 (previous resistance now potential support), $0.58 (next major base)
Conclusion:
This appears to be a short-term profit-taking opportunity. After a parabolic surge, retracement toward the $0.72–$0.58 range is probable. Ideal for short setups or taking profit on longs. Trail stop if holding long.