🔥👇WCT Holds Steady Around $0.295 as Transferability Unlocks Eyes on $0.32+ Breakout?🔥👇
@WalletConnect Token ($WCT) is currently trading near $0.2948, showing a modest 1.6% gain over the past 24 hours. With token transferability now live and over 49,400 wallets staking 121M WCT, attention is shifting toward staking rewards, governance milestones, and a potential push above the $0.32 resistance level setting the stage for a move toward $0.35+.
1. Price Overview & Technical Levels
Current Price: $0.29455
24h Performance: +1.6%
7d Performance: 9% to -9.7%
24h Range: $0.287 – $0.297
Volume (24h): $34M–$43M
Market Cap: $54.5M–$55M
Circulating Supply: 186M WCT (out of 1B max; 19%)
Key Price Zones:
Support: $0.29–$0.295 key area of volume-based consolidation
Resistance: $0.32–$0.33 recent weekly top and possible breakout point
Breakout Target: $0.35+ on strong volume, with potential upside to $0.40+
2. Key Drivers & Risks
Bullish Drivers:
Full Transferability Live: A critical milestone toward decentralization.
Staking Growth: Over 121M WCT staked by 49.4k users, offering 22% APY.
Risks to Watch:
Weak Weekly Performance: A 7 day dip of 9% suggests trader caution.
Adoption Dependency: Being a foundational Web3 infrastructure, future growth depends on broad adoption.
3. Trading Strategy
Entry Ideas:
Value Entry: Buy zone between $0.29–$0.295, if volume holds.
Momentum Entry: Confirmed breakout above $0.32 with rising volume.
Stop-Loss: Below $0.285 breaks below support base.
Profit Targets:
T1: $0.32–$0.33
T2: $0.35+
T3: $0.40+ If staking and governance metrics strengthen.
Position Size:
Start with 2 4% portfolio allocation.
Consider scaling to 5 6% if on chain metrics and DAO governance gain momentum.
