Analysis of the asset WCT/USDT (1D timeframe):

📉 Technical picture: The asset has entered an extended consolidation phase after a sharp drop from the peaks. The price is currently consolidating in a narrow range of ($0.285 – $0.30), which is marked by a purple rectangle.
🔹 Resistance: level $0.30, reinforced by moving MAs (7/25/99), pressing from above.🔹 Support: zone $0.285 – the lower boundary of the current sideways channel and the lower line of Bollinger Bands.
📊 Indicators:
MA 7, 25, 99 — all moving averages are above the price, indicating a strong downtrend.
Parabolic SAR - the points are above the candles, confirming the pressure from sellers.
Bollinger Bands — a strong contraction of the bands indicates low volatility and a possible momentum in one direction.
Ichimoku Cloud — the price is deeply below the cloud, which acts as strong resistance in the range of $0.37–0.83.
📌 Conclusion: The asset is in an accumulation phase after a prolonged decline. A breakout above $0.30 may trigger a local rise to $0.34–0.37. A loss of $0.285 is a signal for the continuation of the downward movement.
⚠️ Risks: There are currently no signs of a reversal. It's important to monitor volumes and the exit from the flat zone.