Worldcoin Price Eyes New Highs: Technical Indicators Signal Robust Bullish Momentum

The #Worldcoin price has exhibited significant movements on the 4-hour chart, showcasing a notable uptrend with the last recorded price at $5.789. This rise has been underpinned by a series of positive technical indicators and key support and resistance levels which investors are closely monitoring.

Initially, $WLD experienced an upward momentum as indicated by a steady increase in the closing prices from $5.501 to a peak of $6.005 before slightly retracing to $5.789. This upward trajectory is mirrored in the 9 Exponential Moving Average (EMA), which climbed from $5.549 to $5.715, consistently staying above the 20 EMA. Such a configuration often signals a bullish sentiment as the shorter-term average moves above the longer-term average.

The 20 EMA itself rose from $5.628 to $5.693, further confirming the bullish outlook. Both EMAs suggest a continued upward trend, though the approach to significant resistance levels could see some consolidation or retracement.

The Moving Average Convergence Divergence (MACD), another critical indicator, provides a mixed perspective. The MACD line crossing above the signal line in recent periods points to potential buying opportunities. However, the histogram values being relatively close to zero suggest that while upward momentum exists, it may not be overwhelmingly strong. This hints at caution, especially as the price approaches higher resistance levels at $6.218, $6.335, and $6.562.

From a Relative Strength Index (RSI) perspective, values moved from a modest 45.56 up to 62.74, reflecting increasing buying momentum and entering into the slightly overbought territory. This indicates strong buying pressure but also calls for vigilance as the RSI nears the 70 threshold, where the asset may be considered overbought and could face a potential pullback. #write2earn🌐💹 #TrendingPrediction #BullorBear

The full analysis and trade strategy were originally posted on ecoinimist.com.