A look at the token (WCT)๐ง
WalletConnect token (WCT): @WalletConnect
๐ Overview of price and market
#WalletConnect ๐๐๐ฅ๐$WCT ๐๐ฅ๐๐
Current price: about $0.296, trading within a narrow daily trading range of approximately $0.29 to $0.31.
24-hour change: slight decline (about -2%) after a recent minor recovery.
Market value and supply: circulating supply โ 186 million WCT tokens; market value โ 55 million USD. Maximum supply: 1 billion USD of WCT
๐ Technical analysis and on-chain analysis
Short-term momentum: trading within a narrow range of approximately $0.304 to $0.315 - this area may set up for a breakout (rise above $0.315) or drop below $0.304.
Medium-term structure: after a failed attempt to break above $0.60, WCT is stabilizing between $0.30 and $0.60. A decisive break above $0.60 - with strong trading volume - could reignite an upward trend towards $1 or more. Conversely, dropping below $0.30 could test the cycle low at $0.28.
Technical indicators: TradingView suggests a 'neutral buy' recommendation on oscillators, with mixed or neutral signals for moving averages.
Derivatives indicators: stable open interest in futures, slight decrease in trading volume (about -7%), while funding rates remain modest - indicating a balance in buying and selling sentiment.
๐ Dynamics of on-chain cryptocurrencies and tokens.
Trading: only about 18.6% of the total supply is circulating; upcoming wallet openings (about 2.5 million WCT over approximately 18 days) may cause downward pressure as holders gain liquidity.
Services and ecosystem: WCT supports the WalletConnect network, enabling connection between wallets and decentralized applications across chains (including Ethereum, Solana, and Optimism), and supports governance and storage within the network.
๐ฏ Key trading levels
Scenario level strategy
Breakout above $0.315, targeting buy $0.34-$0.36 or more
What do you expect for this token (WCT)?๐ค
Upward ๐ค or Downward ๐
WCT $WCT #Walletconnetc @WalletConnect