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- WLD breaks above descending channel; Supertrend turns bullish.
- Positive DAA divergence suggests growing network demand.
- Pennant formation points to potential targets of $1.42–$1.96.
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After a sharp dip in late September, Worldcoin (WLD) appears to be regaining momentum. At the time of writing, WLD trades at $1.32, signaling a potential end to its short-term decline. The altcoin recently broke above the descending channel that had contained its price for the past ten days, suggesting that sellers are losing control. Technical indicators reinforce this optimism: the Supertrend signal has flipped bullish, placing its green line below the current price and offering a strong buy signal.
Holding above the new support at $1.24 could see WLD targeting resistance levels near $1.63. Traders are closely watching this breakout, as sustaining above this range may indicate a broader trend reversal rather than a simple relief rally.
On-Chain Activity Supports Upside Momentum
Worldcoin’s bullish case is further strengthened by on-chain data. The Daily Active Addresses (DAA) divergence currently stands at 57.18%, indicating growing network activity compared to price movement. A positive divergence above 50% suggests that demand is outpacing valuation, often a precursor to sustained upward trends.
If active addresses continue to increase, WLD could maintain its momentum and test higher resistance levels in the near term. Analysts are pointing to this metric as a key gauge of whether Worldcoin’s recovery will be short-lived or part of a larger rally.
Pennant Formation Signals Potential Pump
On the daily chart, WLD has formed a bullish pennant, which typically represents a consolidation phase before a price surge. The altcoin has already pushed above the pennant’s upper trendline, hinting at a possible move toward the $1.42–$1.69 range. If buyers maintain strength and prevent a fallback, WLD could potentially climb to $1.96.
Also Read: Worldcoin Breaks Falling Wedge: Key $1.35 Support Could Spark 70% Rally
However, traders should remain cautious. Without sufficient follow-through volume, the breakout could fail, forcing WLD back into pennant consolidation near the $1.10 support level.
Worldcoin’s technical and on-chain indicators suggest a bullish shift after September’s dip. A sustained move above $1.24 may confirm a short-term reversal, while continued network growth could fuel a larger price surge. For traders, WLD presents an intriguing opportunity—but as always, momentum and volume remain critical to watch.
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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!
