As of May 26, 2025, WalletConnect Token (WCT) is trading at approximately $0.647 USD on Binance. The token has experienced a notable upward trend recently, with a 24-hour increase of 1.48% and a 30-day gain of 53.56% .
Technical Indicators:
Support Levels: $0.60 and $0.599, providing a cushion against downward movements .
Resistance Levels: Immediate resistance at $0.6800, with a major resistance at $0.6998 .
MACD: A recent 'golden cross' on the hourly chart suggests potential bullish momentum .
RSI: Currently at 62, nearing the overbought threshold, indicating a possible short-term pullback .
Market Sentiment:
The recent announcement of a 5 million WCT airdrop on the Solana network has contributed to increased interest and trading volume . However, the RSI nearing overbought levels suggests that traders should exercise caution, as a short-term correction may occur.
Trading Strategy:
Breakout Play: Consider entering at $0.6800 upon confirmed breakout, targeting $0.6998 to $0.7200, with a stop loss at $0.6600 .
Pullback Play: Alternatively, wait for a pullback to the $0.6450 support level, aiming for targets between $0.6800 and $0.6998, with a stop loss at $0.6300 .
Given the current market conditions and technical indicators, WCT exhibits bullish tendencies. However, traders should remain vigilant for potential short-term corrections and adjust their strategies accordingly.
