Worldcoin (WLD) is testing its long-term downtrendline as buyer momentum intensifies, potentially leading to a breakout towards the $2.50 region. Recent technical indicators suggest a bullish resurgence following several attempts at breaking through this resistance level. 📈
Increased trading volume and higher lows on the charts signal strong buying interest across exchanges, with open interest climbing by 20%. Derivatives data reveals further bullish conviction, further validating the upward trajectory.
According to Clifton Fx on Twitter, Worldcoin’s ongoing attempts at breaking through the daily trendline highlight growing seller weakness. If a successful breakout occurs, it will signify a shift towards positive momentum and signal a potential reversal of the long-term downtrend. The $2.40-$2.50 region represents a significant upside target for WLD.
Historical consolidation patterns and energy release indicators add further support to this outlook, suggesting that the current bullish run has the potential to sustain a larger rally.
WLD’s price is currently trading at $1.02 after surging 12% in 24 hours, testing its major trendline resistance again.
Technical analysis predicts potential upside targets of $1.80, $2.20 and $2.50, offering traders potential areas to consider if the breakout proves successful.
However, a failed breakout could lead to price pullback toward the $0.90 support level. This dynamic presents a pivotal moment in the short-term market direction, with both bullish and bearish outcomes playing a significant role.