๐ WCT Coin Technical Analysis Update ๐
Hey everyone, hereโs a quick technical update on WCT coin based on the latest chart:
๐น Downtrend Break: The price has broken a major descending trendline, which is an early indication of a potential bullish reversal.
๐น Bullish Flag Pattern: After the breakout, the price formed a descending channel (bullish flag), which typically signals a continuation to the upside once it breaks out.
๐น Support Zones: There are two key demand/support zones below, where price has previously shown strong bullish reactions. These areas could serve as launch points for the next upward move.
๐น Resistance Zone: A strong resistance zone lies above where price faced rejection earlier. A clear breakout above this zone could confirm a new bullish leg.
๐ Key Levels to Watch:
Support Zones
Resistance Zone
Retest Zone: Price may retest the broken trendline before making its next move.
๐ Conclusion: If the price reacts strongly from the support zone and breaks out of the bullish flag pattern, it may offer a good buying opportunity. Wait for confirmation with a strong bullish candle and set stop-loss just below the support zone.
