Surging WLD: Robust Bullish Indicators Point to Continued Ascension Through Key Resistance Levels
As of the latest data from the 4-hour chart, $WLD has shown a notable uptrend, with closing prices climbing from $5.34 to $5.626 before slightly retracting to $5.572. This positive trajectory is bolstered by the 9 Exponential Moving Average (EMA) which rose steadily from $5.0406 to $5.3605, and the 20 EMA increasing from $4.9831 to $5.1798. The alignment of both EMAs below the current price level typically signifies a robust bullish momentum, supporting an upward trend continuation.
A closer look at the Moving Average Convergence Divergence (MACD) reveals an interesting pattern; the MACD line has been consistently above the signal line across the observed period. Initially, the MACD value was 0.0152, gradually increasing to 0.1384, which, in conjunction with a rising histogram, underscores the growing bullish strength in the market. This strength is further confirmed by the Relative Strength Index (RSI), which remained above 60 during the period, peaking at 66.5472, an indication of strong buying pressure yet not quite reaching the overbought threshold of 70.
In terms of potential movements, #WLD is approaching significant resistance levels at $6.562, $6.794, and $6.958. The proximity to these levels amidst strong bullish indicators suggests the possibility of testing and potentially breaching the first resistance at $6.562. However, traders should be cautious of potential retracements, especially if the asset struggles to sustain momentum as it nears higher resistances.
On the downside, the support levels at $5.179 and lower at $4.707 and $4.702 provide safety nets should a bearish reversal occur. The recent price action remaining well above these supports aligns with the bullish sentiment but warrants preparedness for potential pullbacks. #AI #Worldcoin #write2earn🌐💹 #BullorBear
The full analysis and trade strategy were originally posted on ecoinimist.com.