$WCT
Is WCT (WalletConnect Token) still worth watching? Has it finally bottomed out, and is it time to start accumulating? Here’s a quick breakdown of the current technicals and fundamentals:
1. Technicals: Clear Signs of Bottoming Out
Since its launch, WCT has corrected over 75% from its peak, now consolidating in the $0.32–0.35 range. Most short-term selling pressure appears to have been absorbed.
Daily trading volume has dropped significantly, indicating that early airdrop hunters and short-term traders have mostly exited. Signs of accumulation by stronger hands are emerging.
Moving averages (MA7 and MA25) are converging, showing a bullish divergence pattern. The market has entered a “value zone,” with a potential rebound on the horizon.
2. Fundamentals: Campaign-Driven Momentum & Growing Community Consensus
The official Binance Square “Write to Earn Booster” campaign runs until the end of September, with a huge $150,000 prize pool—driving community engagement and attention to new highs.
As the core token of the WalletConnect ecosystem, WCT’s use cases are gradually expanding. Combined with content-driven incentives, this could spark the next wave of community resonance.
During the campaign, new creators and users keep entering the space. Historically, such mechanics often mark the turning point for a token’s price structure.
3. Mid/Long-Term Outlook: Prime Time for Early Positioning
In the short term, WCT remains range-bound and requires risk management. But from a mid- to long-term perspective, bottom signals are increasingly clear and the risk/reward ratio is very attractive.
With speculative “weak hands” washed out, this is an ideal window to dollar-cost average or accumulate in batches.
Conclusion:
WCT is now trading in a clear bottoming zone, with early weak hands mostly out and the September campaign adding further upside potential. This is a prime window for early accumulation with good risk management. My mid-term price target: $0.5–0.6+.