Specific analysis of World Currency WLD
WLD (World Currency) belongs to the L2 and AI sectors. It is currently launched on the OP mainnet. Its main functions are privacy and digital payment. I won’t talk much about the fundamentals. Let’s analyze whether the trend has changed and how it will go in the short term from the market.
Analyze the big trend weekly trend:
1. After breaking through the previous historical high, it ushered in a wave of retracement to support. It is currently near the support level and has not effectively broken the support, indicating that the support below is very strong.
2. The entire market is still on the right side of the long-term rising trend line, and the high and low points are constantly moving up, indicating that the big trend has not changed. It is still an upward trend in the bull market.
3. After stepping back to the support level range below, it began to oscillate after stopping the decline and formed a slightly upward parallel channel.
4. At present, the high and low points in the oscillation zone are rising, but from the perspective of volume, the current volume of long and short is relatively balanced, and there is no obvious long and short strength.
5. Last week's K-line broke the previous high and also increased in volume, but the amplitude of breaking the previous high was not obvious, and the body of the K-line was very small, which shows that the pressure from above is very strong.
From the above analysis, it can be seen that WLD has pressure from above and support from below. There is no obvious signal of long and short strength, and it is likely to continue to fluctuate in the near future.
Although the overall trend is an upward trend, the huge selling pressure from the project party is bearish, which will affect the trend of the market in the short term. These two points are equivalent to a combination.
Through the above analysis, the short-term trend of WLD belongs to the weakening of shorts, but the bulls have not become stronger. There will be a oscillation callback. When the reversal signal appears again after another callback, it will be a good short-term entry point.
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