WLD Breaks Consolidation and May Rise to $5.290
The Worldcoin price broke out of the consolidation zone between $2.065 and $2.770 in the past few days. As a result, the altcoin now has a clear path to rise to $5.290 in the next few days. This is similar to the crypto’s last break out of the channel back in Dec. 16, 2023. Following its previous move, it was not able to overcome the $5.290 resistance level, however, and gradually descended after reaching a high of $4.788. So traders may want to wait for WLD to establish a position above $5.290 before going long on the altcoin.
Should the Worldcoin price get rejected by the $5.290 resistance level again in the coming days it may begin to drop towards $2.770 in the following week. Continued sell pressure could then drag the altcoin’s value back within the aforementioned sideways channel.
Technicals Show Bulls Have the Upper Hand
Technical indicators on WLD’s daily chart suggest the Worldcoin price may keep climbing in the next 24-48 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are flagging bullish.
The MACD line is breaking away above the MACD Signal line, which may be a sign that WLD’s bullish trend is growing stronger. In addition to this, the RSI line is also rising above its Simple Moving Average (SMA) line. Traders generally see this as a signal that bulls are growing stronger against bears. However, the RSI on the daily chart is in overbought territory. This may lead to some sell activity as traders attempt to mitigate their downside risk.
Should the Worldcoin price get rejected by the $5.290 resistance level again in the coming days it may begin to drop towards $2.770 in the following week. Continued sell pressure could then drag the altcoin’s value back within the aforementioned sideways channel.
Technicals Show Bulls Have the Upper Hand
Technical indicators on WLD’s daily chart suggest the Worldcoin price may keep climbing in the next 24-48 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are flagging bullish.
The MACD line is breaking away above the MACD Signal line, which may be a sign that WLD’s bullish trend is growing stronger. In addition to this, the RSI line is also rising above its Simple Moving Average (SMA) line. Traders generally see this as a signal that bulls are growing stronger against bears. However, the RSI on the daily chart is in overbought territory. This may lead to some sell activity as traders attempt to mitigate their downside risk.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.