The price of the cryptocurrency #Worldcoin (WLD) has risen by more than 20% this week, despite previous bearish trends. Currently, the cryptocurrency is pushing to break the $2 mark, which would represent a significant step toward recovery.
However, the #WLDđ„đ„đ„ price has been fluctuating within a range for more than two months and is still struggling to maintain a consistent close above $2.
Bulls Struggle to Break the 100-Day EMA
Last week, bulls failed to surpass the 100-day exponential moving average (EMA), and the price was rejected by 10%. Despite this, it appears that WLD has reached its bottom and is now ready for recovery. If the price climbs above $2.20, bulls would have room to push higher in the coming sessions. When the price broke through the 20-day EMA, buying pressure started to increase.
WLD Bulls Fight for Dominance: Price Action Analysis
At the time of writing, the price of WLD stood at around $1.88, having risen by 1.20% in the last 24 hours and by 20% over the past seven days.
The daily chart indicates that Worldcoin is nearing a potential breakout at its 20-day EMA, and it may soon test its 100-day EMA level as well. This movement signals a short-term #BullishMomentum , with further recovery expected in the upcoming sessions.
Crypto Analysts' Opinions
According to analyst @CryptoTony, breaking above $1.85 could support further gains. Similarly, @CryptoJack mentioned that WLD has bounced off a support zone and may soon retest the resistance level around $3. Recently, WLD has surpassed the 38.2% Fibonacci level around $1.60, with the next barrier at the 50% mark near $2.20, pointing to a potential strong bullish trend.
WLD Price Prediction: Bearish Divergence Emerging
Despite the price recovery, the MACD indicator has shown red histogram values, indicating a possible bearish outlook. On the other hand, the RSI indicator remains above the midpoint at 56, signaling a neutral sentiment. Meanwhile, the Chaikin Money Flow (CMF) indicator is above zero (0.08), reflecting significant liquidity entering the market.
On-Chain Data Shows Short-Term Growth Potential
Over the past seven days, the number of new Worldcoin addresses increased by 1.02%, while active addresses grew by 6.74%. This suggests that buyers expect short-term price growth and have begun accumulating tokens. Data from IntoTheBlock reveals that 15.93% of holders are currently in profit, while more than 80% are struggling to secure gains.
Additionally, open interest (OI) has increased by 5.89% to $197.17 million, signaling ongoing growth activity over the last 24 hours.
Possible Scenarios for Future Development
If the WLD price fails to break through the $2 mark, it could drop to as low as $1.50. On the other hand, if liquidity and demand increase, the price could rise above $2 and reach $2.40 in subsequent trading sessions.
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