$WCT : Will It Bounce Back?
The recent price movement of WalletConnect Token (WCT) has been notably volatile. As of June 1, 2025, WCT is trading at approximately $0.60, experiencing a significant decline of over 50% in the past 24 hours .
This sharp downturn follows a recent all-time high of $1.35 achieved just days ago, indicating a substantial pullback from its peak . The current price is also below the 7-day moving average of $0.8597, suggesting a short-term bearish trend .
Analysts have identified immediate resistance levels between $0.85 and $1.00. A breakout above this range could signal a potential reversal, but until then, bearish sentiment may persist .
Key Takeaways:
Current Price: Approximately $0.60
24-Hour Decline: Over 50%
Resistance Levels: $0.85–$1.00
Market Sentiment: Short-term bearish
Given the current market conditions, traders should exercise caution. Implementing risk management strategies, such as setting stop-loss orders and avoiding overexposure, is advisable. Monitoring for a sustained move above the identified resistance levels may provide indications of a potential trend reversal.
For those considering entry points, waiting for confirmation of support stabilization or a clear bullish signal could be prudent.
