#WLD #Cryptocurrencies #Trading

Dear traders,

Today we dive into the technical analysis of Worldcoin (WLD/USDT) on the 1-hour time frame, an asset that has captured attention with its recent bullish momentum. Observing the chart, we can identify several crucial points that will help us outline the most probable outlook for price action.

Detailed Technical Analysis:

The price has experienced a significant increase, as indicated by the current green candle and the data of +6.73%. However, it is essential to note that we are right at an important resistance zone, marked by the upper red band around 0.995 - 1.000 USDT. This zone has historically acted as a ceiling for the price, and the reaction at this point will be decisive.

Previously, we identified a "ChoCh" (Change of Character), a signal suggesting a possible change in the short-term trend from bearish to bullish. This change of character was confirmed with the breaking of the previous resistance and the subsequent momentum.

We can also observe the presence of order blocks ("B") that have driven the price upward. These blocks represent areas where there was significant accumulation of buy orders, and the price tends to react when approaching these areas again.

The area marked as "Equilibrium" (around 0.840 USDT) represents a balance point in the previous trading range. While the price is currently far from this area, it could act as a support level in the event of a correction.

Most Probable Price Action Outlook:

Considering the proximity to a key resistance after a considerable bullish movement, the most likely scenario in the short term is as follows:

* Testing the Resistance: The price will attempt to test the resistance zone between 0.995 and 1.000 USDT.

* Possible Rejection: Given the historical strength of this resistance, it is highly likely that we will see a rejection at this level. This could trigger a downward correction.

* Key Support Levels: In case of a correction, the levels to watch will be the previously mentioned order blocks ("B") and the equilibrium zone around 0.840 USDT. The first nearby order block (around 0.920 USDT) could act as initial support.

* Bullish Breakout (Alternative Scenario): If the price manages to convincingly surpass the resistance zone with significant volume, we could witness a continuation of the bullish movement towards higher levels. However, at this moment, the probability of a rejection seems greater.

Conclusion:

The price action of WLD is at a critical point. Testing the key resistance around 1.000 USDT will be decisive. Traders should be on the lookout for rejection signals in this area for potential short-term selling opportunities, closely monitoring the mentioned support levels. On the other hand, a confirmed breakout of the resistance would open the door to additional bullish scenarios.

Stay alert and manage your risk!