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- The Worldcoin price is currently at $1.66 after changing its trend to an uptrend.
- WLD/USDT recovered almost 70.17% of its value.
- WLD coin price trades above the 20,50,100 and 200-day EMAs.
On September 14, 2023, the WLD coin price made a bullish impulsive move to change its trend, and it is currently trading at $1.66 with an increase of 8.17% during the intraday trading session.
Before the start of the bullish move, the coin price declined by -61.67%, but after the forming of impulsive candles the coin price recovered 70.17% of its value from the point where it started. After breaking the upper range at $1.39, the price took support at the $1.29 level.
Source: WLD/USDT by Tradingview
Subsequently, the price started to move upward. The buyers know that the $1.39 level is the key point to sustain the coin price above this level. Consequently, they are being aggressive in buying if the price gets near this level.
On the other hand, if this level breaks down by any chance then the whole price action will probably witness a bearish trend reversal.
Worldcoin Might Continue Uptrend Until $2.08 Level
The WLD coin is currently experiencing a higher level of bullish volume compared to bearish strength. This is evident in the chart, where bullish candles are dominant, and the bearish candles lack the necessary strength to push the price down. This overall market sentiment suggests that the coin is likely to continue trading in an uptrend unless there are significant changes in price dynamics.
However, the current price of the coin is facing some resistance around the $1.70 level. While the price is making a second attempt to break this resistance, it appears that this level may not have the capability to hold back the coin’s price for an extended period.Given the market conditions and the relative strength of bullish volume, there is a higher probability that the coin’s price may eventually break above the $1.70 resistance level and continue its upward trajectory.
Will WLD/USDT Price Retest The $1.65 Level?
Source: WLD/USDT by Tradingview
In terms of technical analysis, the coin’s price is displaying several promising signals. Firstly, it’s trading above the 20, 50, 100, and 200-day EMAs. This alignment of EMAs typically signifies a robust uptrend, marked by the price consistently forming higher highs and higher lows.
Additionally, the MACD indicator is showing positive signs. The MACD lines are currently signaling at 0.0446, positioned above the zero line, indicating a bullish momentum. While the trading volume has decreased somewhat, the overall direction remains bullish, suggesting that buyers still have control in the market.
Furthermore, the relative strength index (RSI) is at 66.36, which signifies bullish strength. Following a pullback from the upper band at 70.00, the RSI has rebounded above the middle band and continued to demonstrate strength. This implies that the prevailing sentiment in the market is bullish.
Conclusion
Overall, The price prediction for Worldcoin (WLD) is bullish. The bulls are pushing the price upward by consistently making swings high and higher low. For the continuation of the bullish rally, the price should break above $1.70. After that, it may reach its next resistance at $2.08 level.
Technical Levels
- Resistance Levels: $1.70 and $2.08
- Support Levels: $1.48 and $1.39
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment or any other advice. Investing in or trading crypto assets comes with the risk of financial loss.
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