$WCT 4Hr Analysis – Elliott Wave Breakdown In Progress

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.