On the 4-hour chart of WCT/USDT, a descending wedge pattern is forming, which could potentially signal an upcoming trend reversal. The price has tested the lower boundary of the pattern and is showing a local bounce — a possible hint at a short-term bullish impulse.
📊 Technical Details: Figure: Expanding descending wedge - often precedes a breakout upwards.
Key support: $0.335 – the zone where the price has repeatedly found buyers.
Nearby resistances: $0.348 – $0.361 – $0.364 – important levels where sellers may strengthen.
Indicators:
Ishimoku: The price is trading below the cloud, indicating bearish pressure. However, a breakout into the cloud zone will open the way to an upward phase.
Bollinger Bands: The price is approaching the BB middle line ($0.3647). A close above may strengthen the momentum.
Parabolic SAR: Points above the candles, which currently confirms the downward trend.
🟢 Potential and scenarios: Bullish scenario: A breakout and consolidation above $0.364 could initiate a move towards the $0.40–$0.41 area ( zone 99MA), especially with an increase in volumes.
Bearish scenario: A deviation from the upper boundary of the wedge could lead to a retest of the $0.335 zone and even $0.326.
⚠️ Risks: The overall market background remains unstable.
The price is under pressure from global resistances.
The lack of volumes on the breakout may provoke a false exit from the wedge.
📌 Withdrawal: WCT/USDT shows early signs of a potential reversal, being at the lower boundary of the wedge. However, to confirm a bullish scenario, a breakout of key resistance levels is required. Until then, the risk of a deeper correction remains.
[The user has shared his/her trading data. Go to the App to view more.]
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
#CandyDrop Airdrop 4.0
📉 Analysis of the WCT/USDT asset (4H)
On the 4-hour chart of WCT/USDT, a descending wedge pattern is forming, which could potentially signal an upcoming trend reversal. The price has tested the lower boundary of the pattern and is showing a local bounce — a possible hint at a short-term bullish impulse.
📊 Technical Details:
Figure: Expanding descending wedge - often precedes a breakout upwards.
Key support: $0.335 – the zone where the price has repeatedly found buyers.
Nearby resistances: $0.348 – $0.361 – $0.364 – important levels where sellers may strengthen.
Indicators:
Ishimoku: The price is trading below the cloud, indicating bearish pressure. However, a breakout into the cloud zone will open the way to an upward phase.
Bollinger Bands: The price is approaching the BB middle line ($0.3647). A close above may strengthen the momentum.
Parabolic SAR: Points above the candles, which currently confirms the downward trend.
🟢 Potential and scenarios:
Bullish scenario: A breakout and consolidation above $0.364 could initiate a move towards the $0.40–$0.41 area ( zone 99MA), especially with an increase in volumes.
Bearish scenario: A deviation from the upper boundary of the wedge could lead to a retest of the $0.335 zone and even $0.326.
⚠️ Risks:
The overall market background remains unstable.
The price is under pressure from global resistances.
The lack of volumes on the breakout may provoke a false exit from the wedge.
📌 Withdrawal:
WCT/USDT shows early signs of a potential reversal, being at the lower boundary of the wedge. However, to confirm a bullish scenario, a breakout of key resistance levels is required. Until then, the risk of a deeper correction remains.