WalletConnect ($WCT ) has dropped by more than -50% in the last 24 hours š
After reaching a high price of $1.39 in the last 24 hours, WalletConnect ($WCT) has experienced an extreme correction with a sharp decline of up to -51.15%, and is currently trading around $0.52.
š From a technical perspective, this is not just an ordinary correction:
* RSI(6) is at 24.29 ā approaching the oversold zone, but has not yet shown valid signs of a reversal.
* A large bearish candle has broken through and closed below the EMA99 support (0.7495) ā this signals full seller dominance.
* The trend structure has changed significantly, with a death cross from the stochastic indicator and a drastic decline in momentum.
This volatility comes against the backdrop of a very high daily trading volume: 261.29 million WCT, indicating potential panic selling or massive distribution from smart money.
There are no explicit negative catalysts from the fundamental side so far, but the previous rally that was too fast without consolidation can be considered the main technical trigger. Projects with high hype but lacking strong utility tend to be very vulnerable to corrections when the market loses short-term momentum.
š DISCLAIMER: Not Promotion & Not Financial Advice
