WCT$WCT The sharp drop wasn’t due to fundamentals. The spike to 1.30 was largely driven by high-leverage trading especially on ByBit, over the last 24 hours. Once those overleveraged long positions got liquidated, the price naturally fell.
Now, there are two possible scenarios:
Scenario 1 (Bullish)
- Likely bottom formed around 0.50
- Expect a bounce to 0.85 and 0.98
- There's 1.3M in liquidity between 1.15 –1.30. If price reaches that zone, short positions may get liquidated.
- If momentum continues, we could see 1.80 and potentially 2.60
Scenario 2 (Bearish)
- Price drops further to test next support at $0.40
Regarding scam claims do your own research before jumping to conclusions. Look into the project fundamentals, team, and roadmap before labeling anything.