Worldcoin (WLD) has been climbing the charts lately, showing a potential growth trend. Although the token has not yet received widespread attention, its recent trend suggests that something big may be about to happen.
Worldcoin (WLD) has been on a tear lately, showing signs of potential growth. While the coin has yet to attract widespread attention, recent trends suggest that something big may be about to happen.
According to the relevant post, WLD has risen 67% in the past 4 weeks to its highest level in 2 months, trading above $2. In addition, technical indicators are sending bullish signals, suggesting a possible breakout.
Technical analysis: Bullish signs are emerging
WLD is currently trading at $2.44 and is showing signs of recovery after a drop earlier this month. The coin has broken above the 7-period Simple Moving Average (SMA) at $2.363, which gives hope to short-term traders.
WLD is currently trading at $2.44, showing signs of recovery after a drop earlier this month. The coin has broken above the 7-period Simple Moving Average (SMA) at $2.363, which gives hope to short-term traders.
More importantly, WLD has broken above the 25-period SMA, which is currently valued at $2.269. This move suggests that bullish momentum may be gaining momentum. The 99-period SMA is located at $2.299, providing solid support.
If WLD can sustain above this level, it may bring more gains in the future. However, a break below $2.299 may mean a test of the lower support level near $2.200, which will weaken the bullish case.
Key support and resistance levels
WLD faces resistance around $2.400. A break above this level (already broken) could pave the way towards $2.500, and further gains could hit the key resistance area of $2.6. A break above $2.600 could trigger a stronger rally, potentially reaching $2.800 and even higher.
On the downside, support lies at $2.300, which coincides with the 99-period SMA. If WLD breaks below this level, a correction to $2.200 or even $2.100 is possible. A break below these levels could signal a deeper correction, so traders should proceed with caution.
Market sentiment around Worldcoin (WLD) has been positive recently, partly due to Bitcoin's surge and listing on Binance. Bitcoin's continued rise could boost WLD and other altcoins. Conversely, a downturn could put pressure on WLD's recent gains.
Worldcoin is gaining attention for its unique approach of combining biometrics with decentralized finance (DeFi). This vision has sparked both excitement and skepticism in the crypto community. If Worldcoin can continue its current momentum, a new rally may just be beginning.
The article is for reference only and does not constitute investment advice.
