Worldcoin Price Plummets, Critical Support Levels Under Threat

In the latest technical analysis of the #Worldcoin price on the 4-hour chart, there has been a notable interplay between price movements and key technical indicators, shedding light on potential market trends and trading opportunities.

Closing prices for $WLD have shown a downward trend, with the most recent price standing at $2.186. This decline is further accentuated by the 9 EMA, which has consistently trended below the 20 EMA, indicating a prevailing bearish sentiment. The current 9 EMA of $2.211 is significantly lower than the 20 EMA of $2.282, suggesting sustained selling pressure.

MACD analysis supports this bearish outlook. The MACD line has remained below the signal line, although the histogram indicates a decreasing bearish momentum with values like 0.002056, suggesting a potential for a trend reversal if this pattern continues.

RSI values, hovering around 37.43, also point to a bearish market. An RSI below 40 typically signals that the asset is nearing oversold conditions, which might attract buyers and result in a price correction.

Given the current technical setup, #WLD is likely to encounter resistance at the $2.251 level. A break above this could pave the way for a move towards the next significant resistance at $2.483, and eventually, $2.745 if bullish momentum builds.

On the downside, immediate support is found at $2.178. If this level fails to hold, we could see a drop to the lower support levels of $1.835 and potentially $1.821, which are crucial for preventing a further decline. #altcoins #TrendingInvestments The full analysis and trade strategy were originally posted on www.ecoinimist.com.