Technical analysis of #WLD

Here's all there is to consider.

1. Current Price and Trend

• Current price: 2.654 USDT

• 24h drop: -4.84%.

• The price follows a clear downward trend, forming lower highs and lows.

• Recent low: 2.613 USDT, acting as immediate support.

2. Moving Averages

• MA(7) (yellow): 2.689 → The price is below this average, confirming short-term bearish pressure.

• MA(25) (pink): 2.857 → It remains as a strong resistance.

• MA(99) (purple): 3.220 → Far from the price, it reinforces the downward trend.

3. Volume

• Selling volume is still predominant, although a slight reduction is observed in recent bars. This may suggest that sellers are losing strength, but there is no confirmation of a reversal yet.

4. RSI (14)

• Current RSI: 32.68 → It is close to oversold (below 30). This indicates that the asset is losing strength, but it could still fall a bit further before bouncing.

5. Support and Resistance

• Immediate support: 2.613 USDT (recent low).

• Major resistance: 2.689 USDT (MA(7)).

• A downside break of the support at 2.613 could take the price towards 2.550 or 2.500 USDT.

6. Conclusion and Strategy

• Predominant trend: Bearish.

• Possible scenario:

• If the price respects the support at 2.613 and the RSI starts to rise, we could see a technical bounce towards the MA(7) at 2.689.

• If the support is broken, the price could continue to fall towards 2.550 or 2.500.

• Recommendation:

• Monitor the 2.613 level. If there are signs of a reversal (bullish candle with increasing volume or rising RSI), it could be a conservative buying zone.

• If the support is lost, wait for lower levels to reduce risk.