🔍 Analysis of the WCT/USDT asset (4H, Binance)
On the current 4-hour chart of WCT/USDT, a clearly defined descending channel is observed, in which the price has been moving steadily since early June.
📉 Technical picture:
Trend:
The price is in a stable bearish trend, forming lower highs and lower lows.
Moving averages:
MA(7), MA(25), and MA(99) are above the current price, increasing selling pressure.
MA(99) acts as a global resistance at around ~0.3503.
Indicators:
SAR continues to signal a downward movement (points above the price).
Ichimoku: The cloud remains red, the price is below the cloud, confirming the dominance of bears.
Bollinger Bands are contracting — a sharp breakout from the range is possible.
Support and resistance:
Nearest support zone: 0.3088 – 0.3036
Resistance level: 0.3281 – 0.3317
🚨 Conclusion:
WCT/USDT is currently held in a bearish corridor, but a potential upward breakout from the wedge is visible.
To confirm the reversal, it is necessary to:
✅ breakout of the channel upwards
✅ consolidation above 0.3317 with volumes
💡 Observation is recommended, as the asset may prepare for an impulse, especially if it breaks resistance with volume support.
📌 Under observation!
#WalletConnect $WCT @WalletConnect