$WCT / USDT: Reversal in the Cards?
WalletConnect ($WCT) is showing signs of life with a potential reversal brewing after a recent downtrend. The price, currently at $0.3096, has seen a strong green engulfing candle, indicating a bottom bounce may be in motion.
Key Targets to Watch
Target 1: $0.3180 — This is a minor resistance level and a recent rejection zone. A break above here could signal further upward movement.
Target 2: $0.3300 — This level is a critical barrier, marked by the MA99 resistance. A sustained close above this point could flip the entire structure bullish.
Target 3: $0.3480 — The top of the trading range from late July. Reaching this target would be a significant show of strength.
Support Levels
Local Support: $0.2980 — The convergence of the MA25 and MA7 moving averages provides a short-term floor for the price.
Main Support: $0.2850 — This is the key bounce zone from the recent low. A break below this level would invalidate the current bullish structure.
Quick Takeaway
$WCT has just moved above both the MA7 and MA25, suggesting a bullish momentum is building. While we're seeing the first real surge in buying pressure, volume confirmation is needed to solidify this trend. A close above the MA99 would be a major catalyst for a full-blown bullish flip.
