The price of $WCT has fallen below the 30-day simple moving average (SMA) at $0.329 and the 7-day exponential moving average (EMA) at $0.316. The relative strength index (RSI) is 45.82, indicating a decrease in momentum. The MACD histogram (-0.00114) confirms bearish divergence.
What this means:
Traders often view a breakout below key moving averages as a sell signal. The lack of support until the level of $0.283 (the minimum on August 14) leaves room for further decline.
What to watch for:
A close above the 7-day SMA ($0.317) could indicate a short-term recovery#wct #WalletConnect @WalletConnect