$WCT
WCT update :
Wallet Connect Token (WCT) sits at around $0.58, rebounding slightly from a steep 42% fall from its $1.39 high on May 30. This sharp reversal follows a typical “blow-off top” pattern, marked by a swift surge in price and a subsequent steep decline. The large red candlestick on May 30, coupled with high trading volumes, hints at significant profit-taking by early holders.
At the moment, WCT is testing a crucial support level near $0.60. This area, which served as a ceiling during the May surge, has now flipped to potentially act as a floor for stabilization. Should this level hold, WCT might see a short-term recovery towards the $0.70–$0.75 region.
To the upside, the next major resistance is around $0.85. Breaking above this could revive bullish sentiment and open the door for a potential run toward the $1.20 zone, aligning with past peaks. On the flip side, if the $0.60 support fails to hold, further drops could test the $0.40 and $0.20 levels, which coincide with prior consolidation zones.
Overall, WCT’s recent candlestick patterns suggest caution. Watching these key support and resistance levels, along with trading volume, will be critical for traders aiming to navigate any upcoming price swings or reversals.