The WalletConnect Token ($WCT ) price has decreased by 1.11% to $0.306 over the last 24 hours, which is worse than the overall cryptocurrency market (-0.73%). The main reasons are profit-taking after recent exchange listings, mixed technical signals, and a weakening of momentum following previous positive factors.
Decline in interest after listing — integration with Coinbase Optimism was completed on August 14, which triggered a 'sell on news' behavior.
Technical resistance holds — an unsuccessful attempt to break the resistance level of $0.3766, support is now being tested at $0.3165.
Change in market sentiment — the altcoin season index has risen by 15% over the week, but this does not offset Bitcoin's dominance at 57.64%.
The decline of $WCT reflects a cooling period after the rise caused by the listing on Coinbase, as well as the impact of technical resistance and weak demand for altcoins. Despite the long-term utility of the protocol for connecting wallets to decentralized applications, short-term traders are focused on risk management.
