Worldcoin outpaces AI crypto projects – what's next for WLD?
(note: the post contains data by CoinGape)
Worldcoin price slipped below $2 pivotal level during the sell-off in the market in June and July. The bearish picture marked a continued bearish outlook from the peak of $12 achieved in March.
Nevertheless, bulls seem to have made a comeback taking down resistance at $2 and pushing for a larger breakout this week.
Worldcoin price now dodders above the 20-day Exponential Moving Average (EMA). A break above the descending trendline backs the new uptrend eyeing the next milestone at $3.
The 50-day Exponential Moving Average (EMA) reinforces the seller congestion at $3 with the 200-day EMA at $4 likely to make the recovery an uphill battle this week.
Key indicators rallying behind Worldcoin include the Relative Strength Index (RSI) currently neutral at 50. Traders have continued to increase longs as the RSI climbs from the oversold region into the neutral area. Should the indicator ease into the overbought region, Worldcoin could explode above $5.
A buy signal emanating from the Moving Average Convergence Divergence (MACD) will keep sentiment positive toward the end of this week. The blue MACD line validated the buy signal flipping above the red signal line.
Traders can expect Worldcoin price prediction to retest the 20-day EMA support at $2.23. A trend reversal from this level will reaffirm the bullish grip. WLD might also stretch the correction to the descending trendline. If defended, the uptrend will continue. However, it is too early to rule a drop to the $2 support and below, especially if investors who bought the dip decide to sell for early profits.
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