The chart shows a long red candle indicating strong selling pressure at the peak.
Now consolidating in a tight range near $0.35, forming a base.
2. Support & Resistance:
Immediate Support: $0.3350 (Recent low)
Next Support: $0.3000 (psychological round number)
Resistance 1: $0.3700 (7-day MA)
Resistance 2: $0.5391 (25-day MA and former support turned resistance)
Major Resistance: $0.7500 (congestion zone from earlier)
3. Moving Averages:
MA(7): $0.3691 (currently above price → bearish pressure)
MA(25): $0.5391 (far above → confirms strong downtrend)
Price is below all key MAs, confirming bearish momentum.
4. MACD:
MACD Histogram: Slightly negative but decreasing – a possible sign of slowing bearish momentum.
Signal Line (DEA): -0.0526
MACD Line (DIF): -0.0634
MACD crossover hasn't occurred yet – trend is still bearish, but loss of momentum is visible.
5. Volume:
Spiked heavily during the crash (over 19M) → panic selling.
Now decreasing → accumulation phase might be starting.
🧠 Fundamental Overview: What is WCT (Waves Community Token)? $WCT
WCT (Waves Community Token) is a governance and reputation token used within the Waves blockchain ecosystem.
🔧 Use Cases:
Community voting and decision-making.
Used to reward early contributors and Waves project supporters.
Linked to Waves platform growth and development.
📈 Fundamentals to Consider:
Utility Tied to Waves Ecosystem: If Waves ecosystem gains adoption (like NFTs, DeFi, etc.), WCT may benefit.
Not a standalone project: Its success is highly dependent on the Waves blockchain’s performance.
Low Circulating Supply (historically) → Potential for high volatility.
Development Activity on Waves and governance proposals can influence WCT demand.
