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📈 Technical analysis 1 day $WCT /USDT

1. Price and Trend:

• The price is currently around 0.2860 USDT (as of the screenshot).

• There is a clear downtrend after a sharp increase to a peak at 1.3928 USDT. Since then, the price has declined significantly, indicating a correction or change in trend.

2. Moving Averages (MA):

• The short-term MA(5) at 0.1511 and the medium-term MA(10) at 0.1642 are below the current price, but both are in a downward trend, reinforcing the bearish sentiment.

3. Bollinger Bands:

• The price is closer to the lower limit (DN: 0.2818), which may indicate oversold conditions. However, the lack of a strong rebound may indicate a continuation of the decline.

4. MACD:

• MACD shows a weak negative signal (DIF: -0.0618, DEA: -0.0607, MACD: -0.0011), confirming a weak bearish trend. The convergence between the lines is close, but without obvious signs of reversal.

5. RSI and Stochastic RSI:

• RSI (2.4445) and Stochastic RSI (2.0268) are in the zone below 30, which traditionally indicates oversold. This may be a signal for a possible rebound if volumes increase.

6. Volume:

• Trading volumes have decreased significantly after the peak that accompanied the price increase. Low volumes at the current level may indicate a lack of active buying interest.

⚠️Conclusion:

Currently, the chart is dominated by a bearish trend with signs of oversold (RSI, Stochastic RSI). A possible scenario is a temporary bounce up to the resistance level (e.g. 0.3614 or MA) if volumes start to increase. However, without a strong driver (news, volumes), the risk of further decline remains. It is recommended to monitor the support level at 0.2800 and volumes to confirm a potential reversal.