$WCT has experienced a sharp decline, dropping by 11-12% in a day. However, the price has fallen close to the 24h low, with the lowest price being 0.4737. This indicates that the price is in an extremely deep decline.
RSI (Relative Strength Index):
The current RSI indicator is at a low level, around 36.7-46.7 (based on the charts you provided), indicating that the market is in an oversold state. A low RSI suggests a high likelihood of recovery, so if the cash flow returns, $WCT may bounce back.
Trading volume:
The trading volume in recent charts has shown significant volatility, with some days having very high trading volumes (such as 28 million in 24h volume). High trading volume accompanied by a sharp price decline suggests that there may be accumulation happening, and when cash flow returns, the price may quickly recover.
Support and resistance levels:
The nearest support level is 0.4737, which is the low in the past 24 hours. If the price holds at this level, there is a high chance of recovery.
The important resistance level is 0.5376, if the price surpasses this level, it may continue a strong upward trend.
Next week's prediction:
With $WCT being in an oversold state (low RSI) and high trading volume, there is a possibility of a strong recovery next week, especially if the market does not encounter additional negative factors.
If the positive trend continues, the price may surpass the resistance level of 0.5376 and move towards higher price ranges.
