🚨 WCT/USDT: WalletConnect's Next Move! Will the Recent Dip Find Support or Deeper Lows?

Market Outlook: After a significant rally followed by a sharp correction, WalletConnect Token ($WCT) is currently in a consolidation phase. The price is showing recent weakness, experiencing a 24-hour decline. This price action is occurring near key support levels, which will likely determine the short-term trend.

💡 Futures Trading Plan (Neutral Stance):

🟩 Long Entry Trigger: Wait for a confirmed breakout and candle close ABOVE the resistance level of $0.3450 on a higher timeframe (e.g., 4H or Daily) with significant volume. This could indicate a reversal of the recent bearish momentum and a push towards higher price levels.

💰Targets: $0.3550, $0.3800, and potentially $0.4000.

🛑Stop Loss: Below the breakout candle's low or below the immediate support at $0.3300.

🟥 Short Entry Trigger: Consider a short if the price breaks BELOW the crucial support level around $0.3300 with a closing candle on a higher timeframe. This would signal a continuation of the recent downtrend.

💰Targets: $0.3150, $0.3000, and potentially toward the longer-term bottom at $0.2800.

🛑Stop Loss: Above the breakdown candle's high.

Your Action Plan:

01 - Wait for Confirmation: WCT is currently in a high-volatility zone. Do not enter a trade until a clear breakout or breakdown is confirmed by a candle close on a relevant timeframe.

02 - Use a Stop-Loss: Given the asset's history of volatility, a stop-loss is non-negotiable. It is essential for managing risk and protecting your capital.

03 - Manage Your Risk: Do not over-leverage your position, especially given the recent price swings. Assess your risk tolerance and size your trades accordingly.

📢 What are your thoughts?

Vote: Do you think WCT will hold its support and bounce, or will the selling pressure continue?

Bounce and Recover 🚀

Further Decline 📉

Comment: Share your analysis below!