WalletConnect Token (WCT)
📈 Market Overview
Current Price: Approximately $0.49– $0.55 USD, down ~8% in the last 24 hours.
24h Trading Volume: Over $300 million USD, indicating high liquidity reflecting significant volatility. Market Capitalization: Nearly $100 million USD
1. Current Value: Approximately 45, indicating the market is in a neutral to slightly oversold state.
RSI below 50 may indicate that selling pressure is dominant, but not to the extent of being oversold (<30).
2. 20-day MA: Approximately $0.55 USD
50-day MA: Approximately $0.60 USD
Current price is below both the 20-day and 50-day MAs, indicating a short-term downtrend.
3. Current Signal: The MACD line has crossed below the signal line, indicating a sell signal.
Negative MACD confirms the downtrend.
4. Nearest Support: $0.50 USD
Nearest Resistance: $0.60 USD
If the price breaks below the support level of $0.50, it may continue to decline further. Conversely, if it surpasses $0.60, an uptrend may be confirmed.
🔮 Based on the current technical indicators, WCT may fluctuate in the range of $0.50 – $0.55 USD in the next 5 hours. If it fails to maintain the support level of $0.50, the price may decrease further.
✅ Conclusion
Short-term: The market is highly volatile, caution is advised when trading.
Long-term: WCT has potential in the Web3 ecosystem, but it is essential to closely monitor risk factors and market volatility.
