Market Overview for WalletConnect Token/USDC

Summary
• Price surged to 0.0860 before consolidating into a bearish flag pattern.
• Volume spiked over 800k near 0.0796, confirming a sharp pullback.
• RSI fell below 30 after 0.0740, signaling potential oversold conditions.
• Bollinger Bands expanded after 22:00 ET, indicating heightened volatility.
• 20-period EMA crossed below 50-period EMA, suggesting short-term bearish momentum.

WalletConnect Token/USDC (WCTUSDC) opened at 0.0829 on 2026-01-18 at 12:00 ET, surged to 0.0860, and closed at 0.0741 on 2026-01-19 at 12:00 ET. The 24-hour volume was 3,343,803.9 units, with a notional turnover of 257,349.88 USD.

Structure & Formations

The price action from 0.0860 to 0.0741 formed a bearish flag pattern between 19:30 and 00:15 ET, following a sharp impulse move. Key support levels were identified near 0.0740 and 0.0732, with 0.0796 acting as a potential short-term resistance. A long-legged doji at 01:45 ET near 0.0749 signaled indecision and possible reversal.

Technical Indicators

The 20-period EMA crossed below the 50-period EMA on the 5-minute chart, indicating a bearish bias in short-term momentum. The RSI dropped below 30 after 00:15 ET, suggesting oversold conditions. MACD showed a negative divergence, aligning with the price decline. Bollinger Bands widened sharply after 22:00 ET, indicating increased volatility.

Volume and Turnover

Volume surged to over 836,929.5 at 00:15 ET, coinciding with a sharp selloff to 0.0686. This spike confirmed the bearish breakout. Notional turnover also spiked, reaching $61,304.10, reinforcing the price movement. A divergence between volume and price was observed between 01:45 and 02:00 ET, suggesting potential exhaustion in the current trend.

Fibonacci Retracements

The 38.2% and 61.8% retracement levels from the 0.0860 high were at 0.0810 and 0.0758, respectively. Price briefly tested 0.0758 before consolidating near 0.0740–0.0745, suggesting potential support clustering in this range.

The market appears to be consolidating near key Fibonacci support levels. A break below 0.0732 could trigger further downside, but a rebound above 0.0758 may signal a reversal. Investors should remain cautious of increased volatility and divergence signals.