Here is a brief and accurate technical analysis of WCH (Wormhole), based on the current price: 0.3313 USDT (time of analysis):
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✅ Technical Analysis (4-hour and 1-hour frame):
General Trend:
🔸 Bearish in the short term after failing to break the resistance at 0.37
🔸 There are currently attempts to rebound from an important support level
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🟢 Support Areas:
0.3200 Strong support (previous local bottom)
0.3000 Very important psychological and technical support
🔴 Resistance Areas:
0.3450 First short-term resistance
0.3700 Major resistance, breaking it opens the way towards 0.41
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📊 Technical Indicators:
RSI (Relative Strength Index): at level 42 → still in the weak zone
MACD: Negative crossover but shows the beginning of weakness in the bearish momentum
Bollinger Bands: The price is approaching the lower limit, which may indicate a potential rebound
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📌 Conclusion:
If the price holds above 0.3200, there is a short rebound opportunity towards 0.3450 then 0.3700
Breaking 0.3200 with a clear close may drop the price to 0.30$WCT