WCT/USDT Analysis: Ascending Channel and Critical Decision Zone
Since the beginning of July, WCT has shown a steady recovery, forming an upward channel. However, the current position near the boundaries of the Ichimoku cloud and key resistance levels indicates a possible trend reversal.
š¹ Current price: ~0.3531 USDT
š¹ Important levels:
ā¢ Resistance ā 0.3629
ā¢ Support ā 0.3496 / 0.3269
Technical picture:
ā¢ Moving averages (MA):
ā MA(7) at 0.3687 ā above the price, may become the nearest resistance
ā MA(25) at 0.3419 ā acts as support
ā MA(99) at 0.4756 ā long-term resistance
ā¢ Parabolic SAR ā is below the price ā bullish signal
ā¢ Ichimoku Cloud ā the price is attempting to enter the cloud, consolidation or a pullback is possible.
Possible scenarios:
Bullish: Break above 0.3629 and consolidation above MA(7) ā continuation of growth
Bearish: Refusal to break through the cloud and exit the channel down ā return to 0.3269
Neutral: Flat within the channel with retests of levels
Withdrawal:
WCT is at a crossroads. Support remains, but the Ichimoku cloud and MA(7) may hold back momentum. A breakout of these zones will pave the way for growth; otherwise, a correction within the channel is likely.