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The $WLD /USDT market is moving according to the technical analysis, rejecting the trendline multiple times and breaking below the Golden Zone. Here's a detailed breakdown of the chart and strategies for traders:

Key Observations from the Chart:

1. Trendline Rejection: The price has rejected the trendline four times, indicating strong downward pressure.

2. Golden Zone Breakdown: The market has broken below the Golden Zone, which was a critical support level, suggesting bearish momentum.

3. Fair Value Gap (FVG): The price is approaching the Fair Value Gap, which could act as a potential support zone in the short term.

Support and Resistance Levels:

Support Levels:

Daily Low: $2.0184

Range Low: $2.0160

Fair Value Gap Zone: $2.0160 - $2.0200

Resistance Levels:

Golden Zone: $2.1200 - $2.1400

Daily High: $2.1818

Range High: $2.1986

Next Breakout Signal:

A retest of the Golden Zone ($2.1200 - $2.1400) could confirm whether the downward breakout is sustainable.

If the price rejects the Golden Zone during the retest, it may signal further bearish movement toward the lower support levels.

Trading Strategies:

1. For Short Positions:

Wait for confirmation of rejection at the Golden Zone.

Enter a short position near $2.1200 with a target at $2.0160 (Range Low) and a stop-loss above $2.1400.

2. For Long Positions:

Avoid buying until clear bullish signals emerge.

If the price finds support near the Fair Value Gap ($2.0160 - $2.0200) and shows signs of reversal, consider a long position targeting $2.1200 (Golden Zone).

Should Traders Buy Now?

The current market momentum is bearish, and traders should avoid buying until there is a confirmed reversal or a strong support level is held.

Focus on short positions for now, but remain cautious as markets can experience volatility near key zones.

Conclusion:

The WLD/USDT market has shown strong bearish signals with the breakdown of the Golden Zone. Traders should watch for retests of the Golden Zone and the Fair Value Gap for potential entry points. Maintaining discipline and following the trend is key in this market scenario.
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