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Worldcoin Price Prediction: WLD Could Be at Risk of Plummeting to $2.466 as Bears Take Control
The #Worldcoin price on the 4-hour chart over the past few hours have ranged from $4.66 to $5.061, with a noticeable spike, breaking this pattern to close at $4.644 in the latest session. This erratic movement suggests a volatile market environment, where the price briefly touched above the $5.00 mark before retracing.
The 9 Exponential Moving Average (EMA) and 20 EMA trends offer more insight. The 9 EMA has shown a decrease from $4.905 to $4.823, while the 20 EMA has also trended downward from $5.086 to $5.003. This convergence indicates a potential bearish crossover, suggesting that the market may continue to see downward pressure in the near term.
The Moving Average Convergence Divergence (MACD) values have consistently been negative, yet the histogram values have been positive and growing, indicating a reduction in the bearish momentum. This could suggest a possible recovery or stabilization in the short term. The Relative Strength Index (RSI) has stayed below the 50 mark, peaking at 46.244 before declining again, which supports the idea of a bearish market sentiment but hints at a non-overextended market.
Looking ahead, traders should monitor the resistance levels at $5.143 and the higher echelons at $6.562 and $6.794. A move towards these levels could signal a shift in market sentiment to bullish. Conversely, the support level at $4.425 will be crucial to watch. A breach below this mark could indicate a further decline to $2.466. $WLD #BullorBear #TrendingPredictions #WLD
The full analysis and trade strategy was originally posted on ecoinimist.com.
The #Worldcoin price on the 4-hour chart over the past few hours have ranged from $4.66 to $5.061, with a noticeable spike, breaking this pattern to close at $4.644 in the latest session. This erratic movement suggests a volatile market environment, where the price briefly touched above the $5.00 mark before retracing.
The 9 Exponential Moving Average (EMA) and 20 EMA trends offer more insight. The 9 EMA has shown a decrease from $4.905 to $4.823, while the 20 EMA has also trended downward from $5.086 to $5.003. This convergence indicates a potential bearish crossover, suggesting that the market may continue to see downward pressure in the near term.
The Moving Average Convergence Divergence (MACD) values have consistently been negative, yet the histogram values have been positive and growing, indicating a reduction in the bearish momentum. This could suggest a possible recovery or stabilization in the short term. The Relative Strength Index (RSI) has stayed below the 50 mark, peaking at 46.244 before declining again, which supports the idea of a bearish market sentiment but hints at a non-overextended market.
Looking ahead, traders should monitor the resistance levels at $5.143 and the higher echelons at $6.562 and $6.794. A move towards these levels could signal a shift in market sentiment to bullish. Conversely, the support level at $4.425 will be crucial to watch. A breach below this mark could indicate a further decline to $2.466. $WLD #BullorBear #TrendingPredictions #WLD
The full analysis and trade strategy was originally posted on ecoinimist.com.
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