WalletConnect ($WCT ) Chart Analysis: Navigating Key Levels
Let's dive into the WCT chart analysis, breaking it down step by step.
WCT's price surged from $0.20 in April to $1.39 by the end of May, a staggering 7x increase in just five weeks. However, this rapid ascent was followed by intense selling pressure once it hit $1.39.
Currently, WCT is trading slightly below its 7-day moving average at $0.5623.The immediate resistance zone lies between $0.60 and $0.84. A decisive breakout above $0.60 is crucial for shifting sentiment back in favor of the bulls. Until then, bears remain firmly in control.
WalletConnect Price Forecast: What's Next?
Following the 54% crash, investors are eager to know what to expect from WCT's price moving forward.
Given the RSI's proximity to oversold territory (around 30), a minor bounce is possible if bulls can defend the $0.60 level. Nevertheless, unless WCT reclaims $0.84, the trend will likely remain bearish.The Verdict: Correction or Something More?
The WCT price crash has divided the community, with some viewing it as a healthy correction and others suspecting foul play.
Ultimately, time and price action will reveal the truth. If WCT fails to reclaim $0.85 soon, it may signal the start of a prolonged downturn, rather than just a minor correction.
👉This is not an investment advice.
#WCT #MarketPullback #CEXvsDEX101 #BinanceHODLerSOPH
