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📉 WalletConnect Token (WCT) – Trading Signals & Market Outlook
As of May 31, 2025, WalletConnect Token (WCT) is trading at $0.6204, experiencing a significant intraday decline of approximately 42.55%, with the day's high at $1.35 and low at $0.6204.
🔍 Technical Indicators Overview
Relative Strength Index (RSI 14): At 27.38, indicating that WCT is currently oversold, which may precede a price rebound.
Moving Averages: All major moving averages (10-day to 200-day) are signaling a sell, reflecting a strong bearish trend.
MACD (12,26): At -0.0002015, suggesting a sell signal.
ADX (14): At 33.29, indicating a sell signal.
Williams %R: At -100.00, which is in the oversold territory.
📈 Long Position Strategy
Entry Point: $0.60 – $0.65
Take Profit Targets: $0.75, $0.85, $1.00
Stop Loss: $0.55
Rationale: The RSI and Williams %R indicate oversold conditions, suggesting a potential short-term rebound.
📉 Short Position Strategy
Entry Point: Below $0.60
Take Profit Targets: $0.50, $0.45, $0.40
Stop Loss: $0.65
Rationale: The prevailing bearish trend and strong sell signals from moving averages support the potential for further downside.
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Please note that cryptocurrency markets are highly volatile. Always conduct your own research and consider consulting with a financial advisor before making investment decisions.
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