$WTC

The WalletConnect Token (WCT) shows promising signs of a short-term bullish recovery after a prolonged period of decline. The price has managed to position itself above the 7-period Moving Average (MA7) at $0.3002 and the 25-period Moving Average (MA25) at $0.3107, and is now approaching a crucial resistance level marked by the 99-period Moving Average.

Outstanding Details of the Setup:

First bullish reversal candle observed after a prolonged correction.

An upward crossover of the MA7 and MA25 is in development – an indication of a trend change.

The price is nearing the important MA99 at $0.3504, which currently serves as a key point to define the short-term direction.

🎯 Key Price Points:

Target 1 – $0.35:

➤ Aligns with the test of the MA99 and a nearby structural barrier.

Target 2 – $0.42:

➤ Represents the midpoint of the previous price consolidation.

Target 3 – $0.50:

➤ A psychologically relevant value and a level of resistance prior to the increase seen in May.

🔻 Fundamental Support Areas:

$0.30: Currently, this area has become a support level.

$0.28: Corresponds to the breakout point of June 25.

💬 Additional Observations:

If the price manages to surpass the MA99 with strong backing from trading volume, the momentum could intensify quickly. This is due to the "vacuum zone" existing between $0.35 and $0.50, which could facilitate a rapid movement. However, if the price fails to maintain above $0.30, traders who bought at the breakout could find themselves in a disadvantageous position.

⚠️ DYOR – Do Your Own Research. This does not constitute financial advice. Markets can be extremely volatile — always trade cautiously!

@WalletConnect #walletconnect