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/USDT - Technical Analysis (4 Hours)
The WalletConnect (WCT) token shows signs of a short-term bullish reversal after an extended downtrend. The price has regained both the 7 moving average ($0.3002) and the 25 moving average ($0.3107) and is now heading towards the resistance level of the 99 moving average.
Key structural highlights:
First bullish engulfing candle after a long decline.
The moving average crossover between 7 and 25 is in progress - a bullish signal.
The price is approaching the critical 99 moving average at $0.3504, which represents a specific trend level in the short term.
🎯 Target levels:
Target 1 - $0.35
➤ Testing the 99 moving average and local price structure
Target 2 - $0.42
➤ Previous mid-consolidation area
Target 3 - $0.50
➤ Psychological level and resistance before the May collapse
🔻 Key support areas:
$0.30 - now turned into support
$0.28 - breakdown level from June 25
💬 Commentary:
If the price breaks through the 99 moving average with volume support, momentum could accelerate quickly due to the gap area between $0.35 and $0.50. However, failing to hold at $0.30 could trap buyers breaking the price.
⚠️ Do your own research - this is not financial advice. Markets are volatile - always trade responsibly!