Market Overview for WalletConnect Token/BNB (WCTBNB) – 2025-11-04

Summary
• Price traded in a tight range overnight before a sharp upward breakout late morning.
• Strong volume signaled during the bullish reversal, confirming momentum.
• RSI remains within neutral territory, suggesting no immediate overbought pressure.

The WalletConnect Token/BNB (WCTBNB) pair opened at $0.00012 on 2025-11-03 at 12:00 ET, reached a high of $0.0001256, dipped to a low of $0.0001167, and closed at $0.000125 as of 12:00 ET on 2025-11-04. Total volume amounted to 148,809.5 with turnover of $18.09 over the 24-hour period. The pair showed a strong upward bias following a key reversal after 21:00 ET, driven by a volume spike of 17,994.0 and later by a late morning rally.

Structure & Formations

The 15-minute chart revealed a bullish engulfing pattern forming around 21:00–21:30 ET, with a long bearish candle followed by a strong bullish rebound. A key support level was identified at $0.0001183, where price paused multiple times before rallying. A resistance level formed at $0.0001211, tested twice without a strong break. Later, the price pushed above this resistance to form a new short-term peak at $0.0001256, suggesting the market is testing new bullish momentum.

Moving Averages

On the 15-minute chart, price has been above the 20-period and 50-period moving averages for the past 2.5 hours, confirming an uptrend. The 50-period MA was at $0.000122, and the 20-period MA at $0.0001235 as of the final candle. On the daily chart, the 50/100/200-period MAs are still aligned in a bullish order, with price sitting above the 200 MA, indicating a longer-term uptrend remains intact.

MACD & RSI

The MACD crossed above the signal line around 21:30 ET, signaling a bullish momentum shift. The histogram showed a positive divergence, aligning with the price’s sharp upward move. The RSI climbed from 48 to 62 over the past hour, indicating moderate strength without reaching overbought territory. This suggests the rally could continue unless RSI crosses 70, a potential warning sign of a correction.

Bollinger Bands

Volatility expanded after the breakout, with the upper band reaching $0.0001262 and the lower band at $0.0001170. Price traded close to the upper band at the 15-minute timeframe, indicating increased bullish pressure. The contraction prior to the 21:00 ET move suggests a period of consolidation was followed by a breakout, a classic volatility expansion pattern.

Volume & Turnover

Volume spiked dramatically at 21:00 ET and again at 09:00–10:00 ET, both coinciding with bullish price surges. The 21:00 ET candle alone accounted for 17,994.0 in volume, which is over 12% of the total 24-hour volume. Turnover aligned closely with volume surges, with no signs of volume divergence, indicating strong conviction behind the price moves.

Fibonacci Retracements

Fibonacci levels were drawn from the low at $0.0001167 to the high at $0.0001256, placing key retracements at $0.0001219 (38.2%), $0.0001239 (61.8%), and $0.0001256 (100%). Price recently bounced off the 61.8% level and extended to the 100% level, suggesting traders may be looking for a pullback or consolidation before a potential break above $0.0001256.

Backtest Hypothesis

The technical setup described—especially the MACD crossover and volume confirmation—could be used in a backtesting strategy to identify similar high-probability setups. To proceed, it’s crucial to ensure that the ticker symbol used for backtesting is valid in the database. For example, if the intended backtest asset is the Harbor Alpha Layering ETF, a correct ticker such as “HOLD” must be confirmed to pull accurate MACD data. Once validated, a full backtest from 2022-01-01 to 2025-11-04 can be conducted to evaluate the performance of Golden/Death Cross signals.