๐ Will the Price Drop? โ Key Factors๐
1. Lack of Liquidity & Price Discrepancy
There is more than a 20% price discrepancy for WCT across major exchanges like Binance and OKX. This gap is mainly due to low liquidity and arbitrage limitations.
Sources: AInvest, CryptoNews
2. Bearish Technical Patterns
WCT is currently showing bearish signals, including:
RSI at 41%
Head & Shoulders pattern
If it breaks below the neckline, the price could drop further to around $0.28โ$0.30.
Sources: CryptoNews, Reddit, Coin Arbitrage Bot
3. Initial Dump & Selling Pressure
After the Binance listing, WCT initially surged to around $0.65, but quickly dropped to around $0.30. This drop was mainly caused by early sellers (initial insiders, airdrop farmers), leading to downward pressure on the price.
Sources: Binance, Reddit
4. Declining Market Hype
Since the airdrop and listing hype has passed, general excitement among investors has decreased. This can result in:
Lower price momentum
Reduced attention
Slower recovery unless new developments emerge
Source: Community sentiment across Reddit, Twitter, and CryptoNews
