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Worldcoin [WLD] in consolidation — Will it break $1.84 or drop to…
The price action of Worldcoin (WLD) has been stuck near the $1.32 resistance level, sparking intense debate among traders as to which direction this asset will take next. Can we expect a breakout above $1.33 and aim for $1.84, or is a drop to $0.90 on the cards? Let’s dive into the current situation.
The recent price action has seen WLD fluctuate between $1.20 and $1.32, forming a narrow consolidation range. This sideways movement may indicate a buildup of buying pressure, which could lead to a significant increase in value if bulls can push past the $1.33 mark. On the other hand, a breakdown below this level could result in a sharp correction towards $0.90.
The 20-period Simple Moving Average (SMA) has been serving as dynamic support at $1.2576. This indicator’s position suggests that bears are still not ready to give up yet. The Bollinger Bands have also been relatively quiet, indicating low volatility levels. A breakout beyond these bands could signal a shift in momentum.
The Directional Movement Index (DMI) reveals that sellers maintain slight control, as the +DI is outperformed by the -DI. However, the Average Directional Index (ADX) at 14.3741 suggests that there’s no strong trend momentum to support this bearish bias.
Meanwhile, the Relative Strength Index (RSI) remains in neutral to mild bullish territory at 56.54. A decisive break above 60 could lead to a significant rally, whereas a drop below 50 might signal further selling pressure.
Source: ambcrypto.com
