$WCT , the token powering the critical Web3 WalletConnect infrastructure, is currently navigating a highly volatile period following its initial launch and subsequent sharp correction from its All-Time High. Investors are looking for signs of stabilization and potential recovery.
📍 Current Price: ~$0.31 - $0.32 (Prices are dynamic; this is the recent range)
📈 Change (24H): +5% to +8% (Showing a short-term rebound in the last 24 hours, but within a broader downtrend)
📉 Longer-Term Performance:
* 7-Day: -5.5% to -12% (Still down significantly over the week)
* 30-Day: -65% to -68% (Reflecting a major correction from its ATH)
* All-Time High (ATH): ~$1.37 (May 31, 2025)
* All-Time Low (ATL): ~$0.278 (April 15, 2025)
🔍 Technical Overview:
* Price Discovery & Correction: After reaching an ATH near $1.37 in late May, WCT has undergone a steep correction, currently trading well below its highs. It has recently bounced off its previous all-time low levels, indicating some demand at these lower prices.
* Moving Averages (MAs):
* On longer timeframes (Daily, Weekly), WCT is trading significantly below all major short, medium, and long-term Moving Averages (e.g., EMA/SMA 10, 20, 50). This indicates a strong bearish trend across these timeframes, with MAs acting as formidable overhead resistance.
* On shorter timeframes (1H, 4H), the recent bounce might show price moving above immediate short-term MAs, but this is often a temporary relief rally within a larger downtrend.
* Oscillators:
* The Relative Strength Index (RSI) on the daily chart is likely in the lower range, potentially signaling oversold conditions, which can precede a bounce (as seen in the last 24 hours).
* The Moving Average Convergence Divergence (MACD) is generally bearish on higher timeframes, showing continued selling pressure, though a bullish crossover could be forming on lower timeframes if the rebound strengthens.
* Trend: The overall trend since the ATH is a clear descending channel. WCT is attempting to find a base near its initial launch price levels.
* Volume: The recent rebound has seen an increase in trading volume (around $40M - $60M in 24 hours), which is a positive sign for the strength of the short-term move. Sustained high volume will be key for any reversal attempt.
📊 Key Levels to Watch:
* Immediate Resistance: ~$0.33 - $0.35 (This zone represents recent highs and potential short-term hurdles).
* Next Significant Resistance: ~$0.40 - $0.45 (A key psychological level and previous consolidation area before the sharp drop).
* Major Resistance: ~$0.55 - $0.60 (Aligns with significant former support and the 50-day EMA on some charts, a strong challenge for bulls).
* Immediate Support: ~$0.29 - $0.30 (The zone from which the recent bounce occurred; holding this is crucial).
* Critical Support / All-Time Low: ~$0.278 (A break below this would be highly bearish and could lead to new price discovery downwards).
⚙️ Potential Setup (High Risk):
Given WCT's recent history and significant price correction, trading this asset carries substantial risk.
* Entry:
* Aggressive: On a confirmed bounce and hold of the ~$0.29 - $0.30 support.
* Conservative: Wait for a confirmed breakout and retest of the ~$0.35 resistance with strong volume.
* Target: For a bounce play, initial targets could be ~$0.35, then ~$0.40. For a more significant reversal, look towards ~$0.55 - $0.60.
* Stop-Loss: A tight stop-loss below the $0.278 ATL is highly recommended to manage risk, or below the confirmation level for more precise entries.
* Risk/Reward: Depends heavily on precise entry and exit, but aiming for at least 1:1.5 to 1:2 on successful trades.
📌 Summary:
WalletConnect Token ($WCT) is currently in a challenging technical position, having suffered a steep correction from its All-Time High. While a recent bounce from its ATL level shows some short-term buying interest, the overall trend remains bearish with significant overhead resistance from moving averages. For a sustained recovery, $WCT needs to break and hold above the ~$0.35 and ~$0.40 resistance levels with convincing volume. Failure to defend current support could see a retest of its all-time low.
Watch for:
* Sustained buying volume.
* The ability to break and hold above $0.35.
* Defense of the $0.29 - $0.30 immediate support zone.
⚠️ DYOR – Do Your Own Research. This is not financial advice. Newer tokens with lower market caps are highly volatile and carry significant risk. Always trade responsibly!