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- WLD breaks descending channel, signaling potential bullish reversal.
- Retest at $0.92–$0.93 critical for confirming momentum.
- Technical indicators suggest bearish pressure is weakening.
Worldcoin (WLD) is demonstrating steady growth as it maintains an upward trajectory in the crypto market. Over the past 24 hours, WLD rose by 1.1%, holding a stable position throughout the week and signaling consistent investor confidence. At the time of writing, WLD trades at $0.9275 with a daily trading volume of $228.66 million, representing a notable 99.28% increase in activity. Its market capitalization stands at $2.08 billion, reflecting a mild 1.08% uptick as traders watch for further momentum.
Breaking Out of the Descending Channel
After a prolonged period of downward pressure, Worldcoin has broken out of its descending channel, suggesting a potential bullish reversal. The breakout above the upper trendline indicates that bearish momentum is losing strength. Currently, WLD is retesting the $0.92–$0.93 zone, a critical level for confirming whether the uptrend will sustain.
Analysts highlight that a successful bounce from this level could trigger a short-term rally, potentially pushing WLD toward $1.35–$1.50, reflecting a 50–60% upside from its current price. Conversely, a failure to hold above $0.90 could negate the breakout, sending the token back into the descending channel. Key support levels to watch include $0.85 and $0.80, which are crucial to preventing renewed bearish pressure.
Indicators Signal Weakening Bearish Pressure
Technical indicators suggest a shift in market momentum. The Relative Strength Index (RSI) stands at 44.18, slightly below the signal line of 47.53, indicating mild bearish activity but near a neutral level. Meanwhile, the MACD line at -0.06719 is approaching the signal line at -0.06555, with a histogram of -0.00164, suggesting a potential bullish crossover.
These technical readings imply that selling pressure may be fading, giving WLD a chance to regain upward momentum. Traders monitoring these signals may see them as early signs of a strengthening market sentiment for Worldcoin.
Steady Gains and Potential Upside
Worldcoin’s recent price action reflects stability and growing investor confidence. With critical support holding and technical indicators pointing to weakening bearish pressure, WLD could be poised for a notable short-term rally. Traders will closely monitor retest levels to gauge whether this momentum can translate into higher gains in the coming days.
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.
Also Read: Worldcoin (WLD) Holds Key Support as Bulls Target $1.60 Breakout
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