WalletConnect ($WCT ) is experiencing mixed market signals despite a recent 0.58% price increase. The main drivers are a surge in trading volume and the recent integration of WCT on Coinbase's Optimism network, which has improved accessibility for U.S. investors. While this listing initially caused a price bump, it was followed by profit-taking.
Technically, the token shows bullish signs with its RSI at 65 and its price above the 7-day Simple Moving Average. However, it is facing significant resistance at the $0.3766 mark. A break above this level could lead to further gains, while a failure could result in a price drop.
Overall, WCT is seeing high speculative interest, and its price remains sensitive to broader market trends. Although there is long-term optimism from the community, a large portion of its supply is still locked, which could pose a risk of future dilution.
