$WCT - @WalletConnect - #WalletConnect
📊 Technical Analysis Overview:
🧭 Trend Indicators
Moving Averages: Fully bearish—all significant MAs (10–200) point down, signaling persistent downtrend.
Oscillators: Mixed neutral-to-bullish signals; MACD is modestly positive, while RSI sits around 37—suggesting mild oversold conditions with potential for recovery.
🧱 Support & Resistance
Support: Clustered between $0.299–$0.284, with the pivot point at $0.3089—watch these zones for entry or halt of a pullback.
Resistance: Immediate caps are $0.3142, $0.3240, and higher near $0.3294.
📌 Chart Patterns & Scenarios
Some analysts see a breakout from a downtrend on the 6H chart above $0.3091, suggesting short-term upside potential toward $0.6165 if volume supports.
Others caution the trend remains bearish or neutral until key moving averages shift or RSI climbs above 50.
🎯 Strategy Insights
Bullish Setup: A sustained move above $0.314 with volume could validate a rebound toward $0.33+.
Bearish Risk: Failure to hold $0.299 support might push price toward $0.284.
Neutral Zone: Between $0.30–$0.314, expect choppy swings—best suited for range trading or cautious timing.
🧠 Summary
Short-term traders could look for buy dips into support (~$0.30) and aim for near-term gains near resistance. On the flipside, long-term holders may choose to stake or hold through consolidation, awaiting clearer trend direction.
Would you like a deeper dive into specific timeframes (1H, 4H, 1D)?
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