Hey #CryptoTraders
Looking at the WCT/USDT chart feels like being on a roller coaster ride! 🎢 First, a massive pump, and then a brutal dump. Let’s break it all down and see what’s going on — and what might happen next.
📊 Chart Breakdown – (WCT/USDT – 4H View)
Current Price: Around 0.6209 USDT
24H Change: -47.67% 😱
24H High: $1.3736
24H Low: $0.5083
🧠 What’s the Story So Far?
Around May 30th–31st, WCT experienced a massive pump, hitting highs of $1.3941. But shortly after, profit-taking and selling pressure kicked in, and the price dumped sharply to a low of $0.5083. It’s currently recovering slightly, but volatility remains high.
📉 What Do the Technical Indicators Say?
🔺 Volume
There were massive red volume bars during the dump — a clear sign of heavy selling pressure.
24H Volume: 328.52M WCT / 252.20M USDT
This indicates a huge amount of trading activity during this move.
📈 EMAs (Exponential Moving Averages)
EMA(7) ≈ 0.7479
EMA(25) ≈ 0.8963
EMA(99) ≈ 0.7447
Currently, the price is trading well below all these EMAs, showing strong bearish momentum. Unless the price breaks above these levels, they’ll act as resistance zones.
📉 RSI(6)
RSI is currently around 31.92
This is very close to the oversold region (typically below 30)
A short-term relief bounce might occur, but overall sentiment remains weak
🔮 What Could Happen Next? (Possible Scenarios)
Sideways Consolidation
Price may consolidate between $0.5083 - $0.7000 and attempt to form a new base.
Short-Term Relief Bounce
With RSI near oversold, a small bounce towards EMA levels could happen. But without strong buying volume, this might just be a dead cat bounce.
Further Downside
If the recent low ($0.5083) breaks, we could see more selling pressure and a further drop in price.
⚠️ Key Points to Keep in Mind
Such pump-and-dump moves are common in low-cap coins.
High volatility = high risk. Always use a stop-loss.
Always DYOR (Do Your Own Research) before entering any trade. This is not financial advice — just a market analysis.
💬 What’s Your View on WCT/USDT?
Did you trade this move? Are you considering a new entry now?
Drop your thoughts in the comments! Let’s discuss
