š” Quick technical analysis:
ā Shy rebound after a long hibernation!
The current price of WCT is $0.3520, up +4.61% over the last 24 hours, after a long decline from the previous peak of $1.3941. This slight increase could be the beginning of a strong reversal wave.
ā ļø RSI is very high ā caution is required!
The Relative Strength Index (RSI) is at 91.03, which is a very strong overbought area! This means that the price may be subject to a correction soon, unless it is supported by new volume and continued momentum.
š MACD gives optimistic signals!
The MACD is now positive, and the blue line (DIF) is above the signal line (DEA), which reinforces the upward hypothesis, especially if it continues at this pace.
š Stable price after a clear bottom!
The price has formed a strong bottom at $0.2869 and has started to gradually rebound ā which some may consider a good entry point before takeoff.
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š Expected scenario:
š¼ If the price breaks the level of $0.4751, we may witness a gradual return to the areas of $0.718 ā $0.96, and perhaps later a retest of the top $1.3941 if new liquidity flows in.
š½ If a sharp correction occurs due to the high RSI, the nearest support is at $0.3172, then the critical bottom at $0.2869.
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š„ Is WCT preparing for a rocket launch?!
The recent candles and the positive crossover in MACD suggest that the currency is starting to come out of "hibernation", but an excessive rise in RSI may lead to a quick correction before the explosion.
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š§ Important tips:
1. š Use a strict stop loss below $0.3172 for protection.
2. š Follow the news related to WCT, as it may be behind this mysterious movement after a long lull.
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š¢ Share your opinion with us!
Do you think WCT will return above $1 again? Or is this just a temporary move? šš
