Worldcoin (WLD) Price Plummets Amid Bearish Flag Pattern: Will Support Hold ?

#notcoin #ETHETFS #altcoins #BinanceLaunchpool #BTC Worldcoin (WLD) has been in a bearish trend in the last 24 hours, experiencing a 0.63% decline to settle at $4.89 as of press time. The price touched a support level around $4.70, indicating a potential floor where buying interest re-emerges, while resistance was observed near $5.00, suggesting increased selling pressure at this level. Throughout the day, Worldcoin fluctuated, hitting an intraday low of $4.8521 and a high of approximately $4.9215. This fluctuation within a narrow range highlights the ongoing consolidation phase. The trading volume saw a substantial drop of 41.68%, decreasing to $309,208,509. This significant reduction in volume indicates waning interest or possibly a consolidation phase, contributing to the overall bearish sentiment.

The Worldcoin price chart indicates a bearish flag pattern, a continuation pattern suggesting the potential for further downward movement. Currently priced at $4.899, the coin has been consolidating within a defined range. The bearish flag is characterized by parallel, downward-sloping trendlines, which typically form after a steep initial decline. Significant support levels are identified at $4.50 and $4.00, which have been tested multiple times, indicating strong buyer interest at these points. Conversely, resistance levels are around $6.00 and $7.00. The price has struggled to break above these levels, suggesting persistent selling pressure. A breakout above these resistance levels could signal a potential reversal, but the prevailing pattern indicates more downside risk.

indicators provide additional insights into the bearish trend. The Relative Strength Index (RSI) is at 49.74, indicating neutral momentum. This suggests that the market is neither overbought nor oversold, but the RSI’s position points towards caution among traders. In addition, the Money Flow Index (MFI), standing at 39.88, reflects relatively low buying pressure.