WCT/USDT – Accumulation Phase or Just a Technical Rebound?
The $WCT token is climbing back to $0.3051 (+3.07%) after hitting a recent low at $0.2817, showing signs of a potential bounce amid moderate volume. Despite a long-term bearish trend, price action suggests a possible double bottom formation.
📊 Technical Breakdown:
RSI(6) at 37, RSI(12) at 40 → entering oversold territory, rebound likely.
Price is testing the MA(7) at $0.3069, but still facing resistance from MA(25) at $0.3410.
Previous local top near $0.4708 remains a critical breakout zone.
🎯 Trader Targets:
TP1: $0.3410 (MA25)
TP2: $0.3900 (horizontal resistance)
TP3: $0.4700 (breakout zone)
SL: $0.2780 (below recent low)
Market Sentiment:
With RSI nearing exhaustion on the downside and a bounce forming off support, $WCT might be entering a short-term accumulation phase especially as @WalletConnect continues gaining traction across multi-chain use cases.
📌 One to watch closely. Short-term opportunity or just noise?