Worldcoin (WLD) Bulls Regain Momentum: Price Targets and Breakout Signals

Worldcoin (WLD) shows renewed strength as its price pushes past key resistance, signaling a potential breakout. Bulls aim for higher targets amid positive market data.

Worldcoin (WLD) Bulls Regain Momentum: Price Targets and Breakout Signals

Worldcoin (WLD) is making waves as bulls attempt to break free from a prolonged downtrend. The digital asset is showing renewed strength, with analysts eyeing potential targets amidst positive market signals.

Breakout from Long-Term Downtrend

Crypto analysts on X, like @TraderEthem, have pointed out a potential breakout pattern in the WLD/USDT pair. WLD is attempting to escape from a descending channel that has shaped its price action since its all-time high. This breakout, observed near $1.153, aligns with a horizontal resistance zone, adding significance to the current price action.

Key Resistance at $1.40

The Worldcoin (WLD) technical outlook shows the token trading near a critical resistance zone around $1.40 after recovering from below $1 earlier this month. Price action remains volatile, with support forming near $0.90-$1.00 and repeated tests at higher levels.

Market Data and Volume Confirming the Shift

WLD recorded a gain, closing at $1.16 after starting slightly above $1.08. The price peaked near $1.20 before a minor pullback, holding above the new support at $1.10. This support zone, previously a resistance barrier, indicates a positive structural change in the token’s market behavior. Trading volume supports the upward move, reaching $568.1 million during the session.

Technical Indicators Aligning

The daily chart on TradingView shows WLD/USDT advancing. The price is approaching the upper Bollinger Band boundary. The 20-day simple moving average has shifted upward, signaling a short-term bullish trend. Volatility has increased, and the Bull-Bear Power (BBP) indicator shows sustained buying pressure.

Potential Targets and Cautions

Analysts suggest potential targets of $1.60 and $1.75 in the short term if WLD maintains price action above the $1.10–$1.13 range. However, it’s crucial to remember that this setup remains valid only as long as the price doesn’t fall below the reclaimed $1.10 support. Failure to hold above this zone would invalidate the current bullish structure.

Final Thoughts

So, is Worldcoin about to go wild? The charts are looking promising, and the bulls seem to be charging. But remember, in the crypto world, it's never a dull moment. Keep an eye on that $1.10 support, and who knows, maybe we'll all be sipping mojitos on the moon soon!