$WCT 4Hr Analysis – Elliott Wave Breakdown In Progress
BINANCE:WCTUSDT
#WCT presents a clear Elliott Wave structure, with a completed 5-wave impulse followed by an ongoing A-B-C corrective phase.
Wave (1) to (5) impulse topped at $0.4140
Current correction forming:
Wave (a): Landed near $0.3152
Wave (b): Potential bounce expected toward the 0.5 Fibonacci retracement zone around $0.3646
Wave (c): Yet to unfold, likely to follow after a corrective rise
📊 Technical Insights:
The recent drop is a textbook retracement after a strong bullish impulse
Volume declining during correction – healthy sign for trend continuation
Key Fibonacci retracement at 0.5 ($0.3646) could act as a supply zone wave (c)
Support Zone: $0.3150 → $0.2920
Resistance Levels: $0.3500 and $0.3646 (Fibo 0.5)
Confirmation for Bullish Continuation: Break and hold above $0.3646 on rising volume
Short-term traders may watch for a bounce toward $0.36-$0.37, but caution is advised as wave (c) may follow. For mid-term setups, the correction could provide a solid reaccumulation opportunity before the next major impulse.
