🔥 Alert with WCT/USDT! 🔥
This pair is declining, with a -11.25% in the last 24 hours and trading at $0.4676. The price action seems to be a clear short for now.
📉 Situation analysis: The price has been in a clear downtrend, breaking important supports. The selling taker volume has been dominant at various times, indicating that there is a lot of selling pressure. Additionally, the long/short average shows a considerable amount of short positions, which can sometimes be a trap if the market decides to liquidate those positions with a sharp rebound.
⚠️ Key levels to watch:
Current resistance: The price is below the moving averages, making them dynamic resistances. The level of $0.4748 (MA25) and $0.4960 (MA99) could be retest points if there is an attempt to rebound.
Imminent support: The minimum in 24h is $0.4565, and the price is dangerously close. If it breaks this level with volume, we could see a more pronounced drop.
💡 Possible scenarios:
Continuation of the short: If the price forcefully breaks $0.4565, we could look for a short with lower targets, perhaps hunting liquidity below this level. Patience will be key to confirm the break.
Technical rebound: A rebound towards $0.47XX is not unreasonable if the buying taker volume suddenly increases and $0.4565 holds. But be careful, it could be a false pullback before another drop. Be very cautious with manipulation in these sharp movements!
My verdict: It seems to be a predominant short, but patience will be your best friend. Wait for confirmation of the break of the key support or a clear sign of bearish exhaustion before trading. Don't jump into the void without confirmation!