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Bitcoin is experiencing a rebound, gradually approaching the record high established in May. Market dynamics seem to be shifting, and many are closely monitoring this development for potential implications.
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$WCT $WCT The WCT/USDT chart shows a significant downtrend with price currently stabilizing around $0.54, acting as a potential support level. The moving averages (5MA, 10MA, 20MA) are aligned bearish, indicating ongoing selling pressure, while the RSI is near oversold territory, suggesting a possible downside exhaustion. The MACD is below the signal line, confirming bearish momentum, although a potential crossover could signal a reversal if buying volume increases.#wct
$WCT experienced a harsh rejection from the $1.3736 zone, crashing down to the $0.60 region. Although a short-term rebound could be possible, now isn’t the moment for blind confidence.
Important Price Zones:
Support Areas:
$0.59–$0.61: This is the present demand region where a surge in volume appeared, hinting at a potential temporary recovery.
$0.52: The next crucial defense level — if lost, it could open doors to sharp declines.
$0.42: A significant historical support from the previous accumulation phase.
Resistance Points:
$0.97: Former support now acting as resistance. A decisive reclaim here could indicate strength.
$1.20: Key liquidity pocket; breaching this might trigger a wave of short liquidations.
$1.50–$1.80: Breakout territory. If bulls show strong momentum, a rally toward $2.60 could still be possible.
Market Sentiment: Despite intensified trading volume, price action remains weak. The $0.60 zone is absolutely vital — holding this level might set up a bullish reversal. Failing it would likely drive the price to test $0.52, then $0.42. On the other hand, recovering $0.97–$1.20 would ignite upward momentum.
In Summary:
Hold $0.60 → Possible upward reaction.
Break below $0.60 → Eyes on $0.52 and $0.42.
Regain $0.97 → Potential for a breakout toward $1.50–$1.80, even $2.60.