WalletConnect Token ($WCT) is currently exhibiting a textbook bullish setup. After a solid rebound from a recent low, the price is targeting higher resistance levels while riding a rising trendline. Bitcoin's current momentum is positively influencing altcoins, and @WalletConnect is absorbing that energy effectively. A volume breakout is also brewing beneath the surface, indicating increased investor interest.
If $WCT manages to break past its immediate resistance levels, a rapid rally could ensue. Sentiment is shifting bullish, and traders are positioning themselves accordingly. The reward-to-risk ratio appears favorable, making it an opportune time to monitor WalletConnect closely.
Currently, $WCT is trading at approximately $0.33, with a 24-hour trading volume of around $70 million. The circulating supply stands at 186.2 million tokens, with a maximum supply of 1 billion tokens. The fully diluted valuation (FDV) is estimated at $326 million, reflecting the potential for future growth as more tokens become available.
The recent unlock of WCT's transferability marks a significant step in its decentralization journey, allowing broader participation in governance and shifting power from a central entity to a distributed network of contributors and users.
In summary, $WCT is demonstrating strong technical indicators, supported by positive market sentiment and strategic developments. Traders and investors should keep a close eye on its performance in the coming days.
