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📉 WCTUSDT — consolidation in a descending wedge 🔍
On the 3D chart, the price of WCTUSDT remains within a descending wedge 🔻, formed after a sharp impulse and collapse in June.
Current price: $0.3295
Technical picture:
Ichimoku ☁️: the price is below the cloud, the trend is bearish.
MA 7 / 25 / 99 📊: the quotes are between MA7 (0.3259) and MA25 (0.3507), which signals a phase of uncertainty.
Parabolic SAR 📍: points below the price indicating an attempt at a local reversal.
Figure 📐: descending wedge — often a bullish pattern upon breakout upwards.
Key levels:
Support 🛡: $0.31 — the lower boundary of the wedge.
Resistance 🚧: $0.35 and then $0.3964 (SAR), $0.5929 (above the Ichimoku cloud).
Scenarios:
🟢 Bullish: breakout at $0.35 with consolidation → test $0.40 and above to $0.59.
🔴 Bearish: break below $0.31 → drop to $0.25 and $0.20.
💡 The asset is currently in a compression zone, and the nearest exit from the wedge will determine the medium-term direction of movement.