$WCT #wct #BullishMomentum
A retracement to $0.42 is well within WCT’s normal pullback range before a renewed bounce. The 50% Fibonacci retracement of the recent $0.284–$0.583 swing comes in around $0.434, classical pivot support (S1) sits at $0.3959, and Binance’s demand zone around $0.375–$0.385 underscores that $0.42 is a logical intermediate support level before further upside .
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Key Support Levels
50% Fibonacci Retracement (~$0.434):
Measuring the drop from the recent high ($0.5833) to low ($0.2843), the 50% retracement level is $0.434 .
Classical Pivot Point S1 ($0.3959):
CoinCodex’s daily pivot analysis places WCT’s first support at $0.3959 .
Binance Demand Zone ($0.375–$0.385):
Binance Square notes a strong accumulation area in the $0.375–$0.385 range, marking a lower boundary of buyers .
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Technical Analysis
TradingView Chart:
The WCT/USD chart on TradingView shows recent consolidation between $0.40–$0.50, with bounce patterns often originating near mid‑range levels like $0.42 .
RSI & Oscillators:
WCT’s RSI is around 60–65 on the 4‑hour timeframe, suggesting room for a mild pullback before hitting oversold (<30) conditions and bouncing .
ATR‑Based Volatility:
With an Average True Range (ATR) near 14% of price (ATR ≈ $0.06 on a $0.45 base), a $0.07 move down to $0.38 is within one ATR, so a $0.42 retracement (≈$0.07 drop) is well within daily volatility .
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Market Context
Volume & Sentiment:
CoinGecko reports a 24 h trading volume of $727.9 M with a 32.8% 24 h price jump, indicating strong participation that can drive healthy pullbacks before continuation .
Derivatives Activity:
WCT futures open interest remains elevated, so short‑term traders often use retracements near $0.42–$0.44 to reload long positions .
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Conclusion
Given the confluence of Fibonacci, pivot, and demand‑zone supports, a drop to $0.42 is not only possible but a logical testing point before WCT resumes its uptrend. Traders can look for bullish reversal patterns around that level to confirm the bounce.