WalletConnect Token/BNB 24-Hour Market Overview

• WCTBNB traded in a tight range before breaking higher, reaching a 24-hour high of 0.0001372.
• Bullish momentum picked up mid-day with a sharp close near intraday highs.
• Volume spiked during key breakout moments, confirming directional bias.
• RSI approached overbought territory, suggesting possible short-term pullback.
• Bollinger Bands showed moderate expansion, indicating rising volatility.

Market Summary

At 12:00 ET on 2025-10-13, WalletConnect Token/BNB (WCTBNB) opened at 0.0001306, reached a high of 0.0001372, dipped to 0.0001287, and closed at 0.0001372. Total 24-hour volume was 136,167.0 and notional turnover was 18.5043 (amount × price). The pair showed a strong reversal and accumulation pattern during the late afternoon, followed by a sharp rally through the evening and into the following morning.

The price formed a bullish engulfing pattern from 22:30 to 23:00 ET, which preceded the breakout and continuation higher. During the late evening hours, the market consolidated near the upper Bollinger Band, suggesting a period of high volatility. The volume profile indicates that the breakout was supported by increased participation, particularly during the 14:45–15:00 ET window when the price spiked to 0.0001372.

Structure & Formations

The 24-hour chart displayed a key support zone between 0.0001321 and 0.0001328, which was tested multiple times before a strong breakout above 0.0001346. A clear bullish divergence formed between price and RSI in the 05:00–07:00 ET range, which preceded a sharp reversal higher. The candlestick structure showed a strong continuation after a bullish engulfing pattern, followed by a strong rally from 07:15 to 09:45 ET.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages showed a bullish crossover around 07:30 ET, followed by a sustained rally. The 50-period moving average acted as a dynamic support during the late evening and early morning hours. The 100-period moving average (daily chart) provided a key level above 0.0001332, which was successfully tested during the early morning hours.

MACD & RSI

MACD showed a strong positive divergence during the 07:00–09:45 ET period, confirming the bullish momentum. RSI reached 69–70 levels near the close, indicating overbought conditions and possible short-term resistance. The RSI histogram showed a strong positive bar during the 14:45–15:00 ET period, aligning with the breakout.

Bollinger Bands

Bollinger Bands expanded during the 14:45–16:00 ET window, with price closing near the upper band. This suggests a period of high volatility and a potential continuation of the bullish move. The bands had been contracting slightly during the early morning hours, indicating a period of consolidation.

Volume & Turnover

Volume was highly concentrated during the 14:45–15:00 ET and 07:15–09:45 ET periods, with turnover confirming the price action. A noticeable divergence appeared in the early morning hours, where price continued higher while volume declined, suggesting possible short-term exhaustion.

Fibonacci Retracements

Fibonacci retracement levels were relevant during the 07:15–09:45 ET rally, with the 61.8% level around 0.0001326 acting as a key support. The rally extended beyond the 127.2% level, suggesting strong bullish momentum. Intra-day retracements during the 05:00–07:00 ET period aligned with Fibonacci levels, confirming key psychological levels.

Backtest Hypothesis

To validate the potential profitability of a breakout strategy in WCTBNB, a backtest can be developed using RSI (14-period) and Fibonacci-based support levels as key signals. For instance, entering a long position on RSI crossover above 70 and exiting at the first support level (swing-low or 20-day low) could provide a robust rule-based approach. Using 15-minute bars ensures the strategy aligns with the observed intraday momentum. A detailed back-test from 2022-01-01 would help quantify risk/reward and optimize parameters.