#WriteToEarnWCT WCT /USDT 4-Hour Chart Analysis
Price Action: WCT/USDT surged from 0.6600 to 1.4000 between May 23-29, a massive 100%+ rally! But on May 30, a sharp 54% drop brought it back to 0.6416—a 15.9% decline from the recent high.
Volume: Volume spiked during the rally and the crash, showing strong buying followed by panic selling. It’s now lower, hinting at easing pressure, but confirmation is needed.
Key Levels:
Support: 0.6416–0.6600 (pre-rally consolidation zone).
Resistance: 1.4000 (recent high), with 0.8000–1.0000 as an intermediate hurdle.
Momentum: High volatility after the drop possibly due to a market event or liquidations.
The 24H range (1.3736 high, 0.6247 low) confirms this.
Scenarios:
Bearish: If 0.6416 fails, we might see 0.6000 or lower.
Consolidation: Price could stabilize around 0.6416–0.6600.
Bounce: A reversal might target 0.8000 if buyers step in.
Trade Smart: High risk here avoid chasing! Watch for bullish patterns or volume spikes at support for a potential entry. Use tight stop-losses due to volatility.