So, why is @WalletConnect token crashing today after such a massive rally? The chart tells a clear story: a classic blow-off top followed by a wave of panic selling. The final candle on May 30 was a huge red one—clearly signaling distribution by early buyers who cashed out at the top.#Write2Earn
TradingView data shows a massive volume spike on May 31, with over 200 million WCT tokens sold. This confirms strong bearish pressure, with investors exiting rapidly amid zero new fundamentals from the official team to support the rally.
As a crypto writer and chart analyst, I can say this is not unusual. After a parabolic rally, tokens often cool off fast—especially meme-like tokens or low-fundamental hype plays. Unless a strong update from the #WalletConnect ecosystem emerges, further correction is likely.
WCT Chart Analysis: Breakdown of Key Levels
Let’s break down the WCT chart analysis step by step.
The altcoin rallied from around $0.20 in April to $1.39 by the end of May. That’s a 7x move in 5 weeks—unsustainable by most standards. Once it hit $1.39, heavy sell pressure kicked in. As of now, it is sitting just above its 25-day moving average at $0.6250, barely holding.
If that support breaks, the next key zones are $0.40 (mid-May breakout level) and then $0.20, which was its launch base.
The 7-day MA is now far above price at $0.8597, confirming the short-term trend is deeply bearish.
Immediate resistance sits around $0.85–$1.00. Only a clean breakout above $0.85 can flip the sentiment back to bullish. Until then, the bears are in full control.
WalletConnect Price Prediction :
What To Expect Next?
After the 42% crash, many investors are wondering about the #WalletConnectToken price prediction going forward.
Right now, it is near oversold territory on the RSI (likely around 30), so a minor bounce to $0.70–$0.75 could happen if bulls defend $0.60. But make no mistake—unless it reclaims $0.85, the trend stays bearish.
If $0.60 breaks, we could be looking at a quick drop to $0.40, and in the worst-case scenario, a retest of $0.20. This zone was the original base, and many early buyers may still be in profit.#WCTToken
Final Thoughts: Rug Pull or Market Shakeout?
The walletconnect price crash has left the community split. Some call it a healthy correction. Others wonder if something shady is going on.
Only time—and price action—will tell. But if the WCT token doesn’t reclaim $0.85 fast, it might not just be a crash, it could be the start of a slow rug.