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Analysis of the WCT/USDT asset on the daily time frame (1D), according to the uploaded chart:
📊 Technical picture:
A symmetrical triangle is forming, indicating a consolidation phase and preparation for a strong move. The price is currently testing the lower boundary of the figure.
🔹 Indicators:
✅ MA (Moving Averages):
MA(7): 0.3629 (above the current price — short-term pressure from above).
MA(25): 0.3425 (the price broke it down).
MA(99): 0.4343 (far above — the global downtrend is still in effect).
✅ Parabolic SAR:
SAR level: 0.4140, points above the price - bearish signal.
✅ Ichimoku (Ichimoku Cloud):
The price is outside the cloud, below the Kijun and Tenkan lines.
The future cloud is red, indicating the continuation of the bearish structure.
Resistance is the area of 0.36–0.38.
📉 Current price: 0.3276 USDT
Support: lower edge of the triangle + level 0.3269
Resistance: 0.3531, 0.3687, 0.3829
📌 Scenarios:
🔺 Bullish scenario:
Holding support ( 0.3269–0.3276 and bouncing up.
The breakout of the triangle's resistance line on volume will open the way to 0.36–0.41 and above.
🔻 Bearish scenario:
Breakdown from the triangle with a consolidation below 0.3260.
Target: 0.31–0.29 )previous lows(.
✅ Withdrawal:
The price is at a critical point. The completion of the triangle is close, and an impulse can be expected in the next 3–7 days.
A breakout below the lower boundary of the triangle will give a bearish signal, while a breakout upwards with volume will be bullish.
🎯 Follow:
Closing of the daily candle relative to the triangle.
Volumes when exiting the pattern.