WalletConnect (WCT) is currently at a critical juncture, showing a weak but potential long trade signal. The token's price is holding a key support level around $0.28 to $0.29, and some technical indicators suggest it is in an "oversold" zone, which could attract short-term buyers. While this signals a possible short-term bounce, the overall trend remains bearish, with the price trading below its major moving averages. This makes a long trade a high-risk proposition, as the token is highly sensitive to market sentiment and broader crypto trends.

The trade is heavily dependent on the token's ability to break above and hold the resistance at $0.30, with subsequent targets at $0.315. A strict stop-loss at $0.275 is crucial to protect against a continued downtrend. Furthermore, the token's tokenomics present a significant risk, as only a small portion of the total supply is in circulation, leaving it vulnerable to future inflation and selling pressure from upcoming token unlocks.

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it's not a financial advice not suggestions DYOR always before investment .