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- WLD breaks falling wedge with rising volume.
- $1.35–$1.40 support zone crucial for bullish momentum.
- Price target post-breakout near $2.20.
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Worldcoin (WLD) is drawing attention from traders after breaking out of a falling wedge pattern on the 4-hour chart, signaling a potential trend reversal. With support holding near $1.35, the token looks poised for a bounce despite recent market volatility. Currently trading at $1.29, WLD has gained 3.54% in the past 24 hours, recovering some ground after a 14.5% drop over the last week.
Falling Wedge Breakout Signals Bullish Momentum
Since early September, WLD has been contained within a falling wedge, a classic bullish reversal setup. This pattern formed following a sharp parabolic rally, with price action slowly compressing between two downward-sloping trendlines. A breakout above the wedge’s top line, accompanied by rising volume, confirms that buyers are stepping in confidently.
Historically, strong volume during a wedge breakout suggests a shift in market control from sellers to buyers. For Worldcoin, this breakout could mark the start of a sustained upward move, provided support levels hold.
Volume Profile Highlights Key Support Zone
Volume profile analysis identifies a strong accumulation zone between $1.30 and $1.40. This range has consistently acted as a support base during recent dips. Maintaining this zone will be crucial for sustaining bullish momentum.
If WLD holds above $1.35, it may retest this level, reinforcing confidence in the breakout. Conversely, slipping below $1.35 could push prices down toward $1.20, signaling that the breakout failed to hold.
Price Action Context and Outlook
Prior to the breakout, WLD experienced high volatility. Between September 21 and 23, it fell sharply from $1.52 to $1.25 amid heavy selling pressure. Buyers defended the $1.24–$1.30 zone, forming a double-bottom-like structure that hinted at stabilization. A small bounce to $1.36 lacked follow-through, but the recent wedge breakout suggests renewed buying strength.
Also Read: Worldcoin Whale Accumulation and $144M Token Transfer Signal WLD Recovery Potential
Analysts now eye a projected price target near $2.20, representing roughly a 70% potential gain from the breakout level. Traders are advised to monitor the $1.35–$1.40 support area closely, as sustaining this zone will be key for the next upward leg.
Worldcoin’s recent wedge breakout, strong volume, and firm support near $1.35 set the stage for a possible rebound. While volatility remains, the bullish structure and accumulation zone indicate that WLD could be gearing up for a notable recovery.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
