WalletConnect Token/BNB (WCTBNB) Market Overview – October 4, 2025

• WCTBNB traded in a narrow range for most of the day before a late decline into oversold RSI territory
• Price broke below a key 15-minute support level near 0.0002188, suggesting bearish momentum
• Bollinger Bands contracted early, followed by a sharp expansion after 19:00 ET as volatility spiked
• Volume surged at the low near 0.000213, but no significant follow-through occurred
• MACD showed a bearish crossover and remained in negative territory, signaling prolonged selling pressure

WalletConnect Token/BNB (WCTBNB) opened at 0.000223 and traded between 0.000225 (high) and 0.000213 (low) before closing at 0.000213 at 12:00 ET. The pair saw a total volume of 18,931.8 BNB and a notional turnover of $4.21 (based on average BNB value) over the 24-hour period.

The 15-minute chart reveals a prolonged consolidation phase from 16:00 to 19:00 ET, during which WCTBNB oscillated between 0.0002214 and 0.000225. A bearish breakout occurred at 19:00 ET with a rejection at 0.0002188, forming a series of bearish engulfing patterns. The price declined sharply in the following hours, with a notable rejection at 0.0002162 and 0.0002165 levels. These levels now appear as potential short-term supports.

Bollinger Bands contracted between 16:00 and 18:30 ET, indicating low volatility, followed by a sharp expansion as price fell to the lower band. This expansion aligned with a 15-minute RSI reading dipping below 20, suggesting oversold conditions. However, the absence of significant volume during this rebound raises concerns about follow-through buying. The 20-period EMA on the 15-minute chart crossed below the 50-period EMA, reinforcing bearish momentum.

The 50-period daily moving average sits near 0.000223, and the current price is well below it, indicating a bearish bias on the daily timeframe. Fibonacci retracements drawn from the recent 15-minute high (0.000225) to the low (0.000213) highlight key levels at 0.000219 (61.8%) and 0.000218 (38.2%) as possible areas of interest. A rebound above 0.000218 would be necessary to confirm a reversal and alleviate near-term bearish pressure.

MACD turned bearish early in the session, with the histogram turning negative and the line crossing below the signal line. This suggests a continuation of the downward trend. RSI hit oversold territory near 0.000213, but the price failed to form a bullish reversal pattern, raising concerns about a deeper correction. The pair could test 0.000212 as the next support level, though a breakout below that would be a bearish confirmation.

The volume profile shows a significant spike at the 0.000213 level, but the lack of follow-through buying is concerning. The notional turnover increased during the decline, indicating some selling pressure, but the pattern suggests that the sell-off may be driven by profit-taking rather than panic. Traders should remain cautious and look for confirmation at key Fibonacci and moving average levels.

Backtest Hypothesis
A potential backtesting strategy involves entering a short position after a bearish breakout of the 15-minute 20 EMA, with a stop above the 50 EMA and a target at the next Fibonacci retracement level. This would align with the bearish signals from the MACD and RSI. Entries after a rejection at 0.0002165 and 0.0002162 could also be considered for short-term bounces. The key to this strategy is volume confirmation—only take trades when volume increases at the breakout level to filter out false signals.