🚀 Worldcoin (WLD) Time for a Rebound? 🧐

Hey Guys! The daily chart of Worldcoin ($WLD ) presents an interesting opportunity. Here’s a deep dive into what we can extract from this setup. 👇

📉 Price Action: WLD is currently trading around $1.498 after experiencing a consistent downtrend from its high near $11. This bearish momentum has slowed down, and we see a period of consolidation around the $1.2-$1.5 range.

📊 EMA Crossovers: The price has been below both the 50-day EMA (1.737) and the 200-day EMA (3.043), signaling strong bearish momentum. However, with the price moving closer to the 50-day EMA, we could soon see a break to the upside, especially if there’s an EMA crossover. If the price manages to break above the 50-day EMA, it could spark a bullish run.

🔍 MACD Analysis: The MACD histogram is beginning to turn green, and the signal line is approaching the MACD line from below, which could indicate a potential bullish reversal. A confirmed MACD crossover would add confidence to any bullish entry.

📈 RSI & Momentum: The RSI is at 44.354, which is still in the bearish zone but approaching the neutral mark. This suggests that WLD isn’t yet overbought, leaving room for potential upside momentum. Watch for the RSI breaking above 50 for added confirmation.

💡 Entry & Exit Points:

Entry Point: Consider entering near $1.50 to ride the potential breakout. If the price closes above $1.75, this would further validate the bullish thesis.

Exit Target: The first target could be the psychological resistance around $2.00, and further up at $3.00.

Stop Loss: To manage risk, placing a stop-loss around $1.25 would be ideal to safeguard against downside moves.

📢 Conclusion: While the price has been bearish for a while, the indicators suggest that the market could be setting up for a potential reversal. Keep an eye on the key indicators for confirmation. Trade wisely and watch those stop losses! 🚨

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