What to know:
- Worldcoin price shows strong short-term strength with rising trading volume surging.
- Bulls building momentum, breakout setup, RSI, MACD signal, increasing demand strength.
- Long-term targets $0.66 breakout unlocks $0.63, $2, $5 and higher levels.
Worldcoin (WLD) price is now showing signs of a strong recovery in the short-term, having previously been under intense downward pressure. The latest focus now seems to be shifting towards the long-term technical analysis for the Worldcoin price.
At the time of writing, WLD is trading at $0.2960, backed by daily trading volume at $518.90 million and a market capitalization of approximately $1.01 billion. WLD price has increased 12.23% over the last 24 hours, according to CoinMarketCap.
Source: CoinMarketCap
Also Read | CLARITY Act Faces Senate Delays Before Key August Crypto Regulation Deadline
Worldcoin price Recovery After Deep Macro Correction
Analyst Crypto Patel shared a long-term perspective indicating that the Worldcoin price is still trading within an accumulative period despite dropping by almost 98% since its highest all-time price level at $11.97. Over a long period, the cryptocurrency has been trading within a wide descending channel and making higher low formations, along with lower high formations.
Source: Crypto Patel’s X Post
As per the technical analysis, the latest structure in the WLD price reflects several tests around the level of $0.26 to $0.18, seen as an important higher time frame demand zone for the asset. Even after many rejection moves on a bearish trend line, there has been a consolidation move that could signal the formation of a base.
Key Structure and Long-Term Outlook for WLD Price
From the perspective of a larger cycle, Worldcoin price had an extended growth stage that carried the asset to the all-time high before falling into a prolonged correction stage between 2024 and 2026, where the price maintained a downward trend by making lower tops.
According to the analysis, confirmation of the bearish reversal will take place only if Worldcoin is able to break out of the channel formation on the weekly chart by rising above the price of $0.66. In case of a break below the level of $0.135 on the weekly time frame, accumulation expectations may be invalidated.
Should the trend continue its progression beyond crucial resistance levels, the expectations for WLD price would see projections reaching $0.63, $2, $5, and potentially $10+, assuming a breakout is successfully made.
WLD Price Rally Shows Strength
Over the short-term period, the Worldcoin price has been exhibiting some favorable signs. The RSI value stands at 64.02 levels after rising above the signal line at 48.88 levels. This indicates that more demand for Worldcoin has been increasing, albeit not reaching the overbought region, which is marked at 70 levels.
Source: TradingView
The MACD is also bullish now, as the MACD crosses its signal line and turns green. It goes together with the recent price movement of the Worldcoin crypto asset, where its value has gone up to $0.29677 from an increase of over 10% in one day.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read | Mark Cuban Sells Majority Bitcoin Holdings After Hedge Doubts Emerge
Be the first to comment