$WCT /USDT (WalletConnect token), several bullish indicators are forming that suggest a potential reversal and strong upward momentum after a long period of consolidation.
📊Price Action & Candlestick Behavior
WCT/USDT is currently trading at $0.3316, showing a +2.98% increase, bouncing from a recent bottom of $0.2869. This forms a higher low pattern a typical signal for trend reversal. After weeks of continuous selling pressure, a cluster of small green candles has formed, suggesting accumulation and a possible bullish breakout phase.
📉Moving Averages (MA)
>MA(7) = $0.3174 (Yellow)
>MA(25) = $0.3630 (Pink)
The price has crossed above the MA(7) and is approaching the MA(25). If it successfully breaks the MA(25) resistance, it could signal a shift in trend direction toward bullish territory. Watch for a potential golden cross, where MA(7) crosses above MA(25), which would further validate the bullish momentum.
🔄Stochastic RSI
>STOCHRSI = 94.27
>MASTOCHRSI = 80.96
These values show that WCT is in extreme overbought territory, which can often indicate a pullback. However, in the context of a reversal from a long downtrend, a high StochRSI also suggests renewed buying interest and momentum.
📉Volume
Recent volume has been relatively stable, with spikes appearing during the recent bullish candles. This is a healthy sign volume is confirming the price move. If volume continues to rise while price climbs, it will support the strength of the rally.
🔻Trend Context
Over the past 30 days, WCT has suffered a -69.12% drop, indicating an aggressive sell-off. However, the sudden bullish turn may be a signal of trend exhaustion and investor repositioning. If the token breaks above the $0.3440 resistance (24h high), we could see a run toward previous major resistance levels near $0.475–$0.72.
📈Key Levels to Watch
>Immediate Support: $0.3174 (MA7), then $0.2869 (recent low)
>Immediate Resistance: $0.3440 (24h high), then $0.3630 (MA25)
>Bullish Confirmation: Break and close above $0.3630 with volume
✅In Summary
WCT/USDT is showing early signs of a bullish reversal, backed by a breakout attempt above key moving averages, rising StochRSI, and increasing volume. While caution is advised due to the overbought RSI levels, the setup suggests a potential trend change that could push WCT into a new price discovery phase especially if the broader market supports it.
Not financial advice do your research 🔬