š„$WCT /USDT ā Searching for a Bottom After Sharp Correctionā
Trend Overview:
Following a parabolic surge to approximately $1.45, WCT has entered a significant downtrend, shedding over 70% from its peak. The price is currently consolidating near the $0.42ā$0.43 support range.
Moving Averages Insight:
WCT remains below key moving averages (7, 25, and 99), indicating continued bearish pressure. The 7 MA ($0.4279) and 25 MA ($0.4718) are now acting as immediate resistance. No clear signs of a bullish crossover or momentum shift yet.
Support Levels & Risk Areas:
Strong horizontal support lies around $0.40ā$0.42. A breakdown below this could send WCT to the $0.36ā$0.35 region or lower. For a bullish reversal to gain traction, price needs to reclaim $0.50 and flip the 25MA to support.
š§ Key Takeaway:
WCT is in a high-risk accumulation phase after its hype-driven rally. A bottom may be forming, but confirmation is lacking. Look for increased volume and a break above $0.50 for more reliable trend reversal signals.
ā ļø Not financial advice ā always do your own research and manage risk carefully.
