WLD recent market analysis and trend forecast
WLD, as a cryptocurrency with privacy and digital payment as its main functions, has been attracting market attention since it was launched on the OP mainnet.
It belongs to the L2 and AI sectors, and its technical advantages and market positioning make it attractive for investment.
Below, we will explore the market trend of WLD and possible future trends from the perspective of technical analysis.
First of all, from the weekly trend, WLD experienced a wave of retracement to support after breaking through the historical high. This callback is a correction to the previous increase and a process of market funds redistribution. At present, the price is near the key support level and has not effectively fallen below the support, which shows that the support force below is quite strong and the market's confidence in WLD has not been significantly weakened by the callback.
Secondly, from the perspective of the general trend, the overall market of WLD is still on the right side of the long-term upward trend line. This means that although the price fluctuates in the short term, its upward trend has not changed in the long run. The continuous upward movement of highs and lows also further confirms this, showing that the main market funds are optimistic about WLD in the long term.
After stepping back on the support range, the price of WLD began to stop falling and formed a slightly upward sloping oscillation channel. This shows that the market is looking for a new balance point, and it is also a process of capital accumulation. In this oscillating market, the highs and lows continue to rise, but the long and short sides are relatively balanced in terms of volume, and no obvious long and short strength signals have yet appeared.
It is worth noting that although the K-line last week broke through the previous high and was accompanied by a large volume, the breakthrough was limited and the K-line entity was small. This reflects that the selling pressure on the market is heavy, and the bulls face certain resistance when further pushing up prices.
WLD will most likely continue to operate in the oscillation range in the near future.
Although the overall trend is upward, it may still be affected by negative factors such as selling pressure from the project party in the short term. For investors, they should pay close attention to market dynamics and changes in technical indicators to grasp the entry
Once WLD pulls back again and a reversal signal appears, it may be a better short-term entry point.
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