WCT - BULLISHThe WCT/USDT pair is showing a strong bullish structure despite being a relatively new listing. After a period of consolidation within a descending wedge pattern, price action has successfully broken above the wedge resistance, indicating a potential reversal to the upside.
Key Technical Observations:
Breakout Confirmation: Price has closed above the descending trendlines (light and dark green), suggesting a trend reversal.
Support Level: $0.4239 – Price is currently retesting the breakout zone, acting as dynamic support.
Next Resistance Levels:
$0.5533 – Intermediate resistance aligned with the pink trendline.
$0.9973 – Major resistance zone.
$1.3510 – Ultimate bullish target area, highlighted with a red ellipse.
Measured Move Target: The technical projection suggests a potential 200% move from the breakout point towards the $1.35 region in the short to mid-term.
Market Sentiment:
Trading volume has started increasing, validating the breakout.
Bullish momentum indicators (e.g., RSI, MACD) are turning positive.
🚀 Short-Term Target: $0.9973
🎯 Mid-Term Target: $1.3510
This setup presents a high reward-to-risk opportunity for scalpers and swing traders alike, provided the $0.42 support holds.
