Market conditions are not as expected, how should WCT be operated,
Funding Rate Analysis:
The current funding rate is -0.09%, indicating that short positions need to pay long positions, which may attract arbitrage funds to enter and go long in the short term.
Historical funding rates show that the previous rate was -0.12%, which is unfavorable for short positions due to the funding costs, but the magnitude of the negative value is small, indicating that market sentiment is not extremely bearish.
Volume-Price Relationship:
The 24-hour trading volume reached 265 million WCT, with a trading value exceeding 90 million USDT, indicating sufficient liquidity, but price volatility is severe (with a 24H high-low difference of 106%).
The spot price is fluctuating widely between 0.20 and 0.41, currently around 0.32, we need to pay attention to the support/resistance levels at 0.3289 (MA7) and 0.3058 (MA25).
Technical Indicators:
RSI(6) is at 57.55-61.75, not yet overbought, but close to the upper edge of the neutral zone.
MACD shows a bullish crossover signal (DIF 0.0042 > DEA 0.0014), with the histogram turning positive.
The short-term moving average MA7 (0.3199) crosses above MA25 (0.3058), indicating a bullish arrangement.
Order Book Dynamics:
Buy and sell orders are dense in the range of 0.324-0.326, showing a short-term oscillating pattern.
The depth chart shows significant selling pressure near 0.3250 (20,844 WCT), and a breakout may test 0.3289.
Short-term Operation Suggestions:
If the spot price stabilizes above 0.325 and MA7 continues to rise, consider opening a light long position, targeting 0.3589, with a stop loss at 0.318.
If it falls below 0.322 (current contract price 0.3223), it may retest the 0.305 support, allowing for a short position reversal.
Be aware of the funding rate settlement time at the 4-hour level (02:44:35) to avoid funding rate fluctuation risks.
Risk Warning:
This cryptocurrency has a 24H volatility exceeding 100%, and leverage should not exceed 3x.
New cryptocurrencies have shallow depth (optimal price difference 0.0003), and large orders can easily trigger severe price fluctuations.
