$WLD Rebounded from a low of $0.6824, forming a strong support zone around $0.68.
The price broke above $0.71, signaling a bullish momentum shift, and is now trading at $1.17.Traders are eyeing the $0.73–$0.75 range, with potential to test higher resistance if momentum continues.The $0.68–$0.70 range remains a key support level if the price retraces.
Technical Indicators
Pivot Points (as of February 24, 2025):
Classical Pivot Point (P1): $0.723111.
Support Levels:
S1: $0.693645
S2: $0.678542
S3: $0.649076 (strongest support)
Resistance Levels:
R1: $0.738215
R2: $0.767681
R3: $0.782784
Analysis: The current price ($1.16) is significantly above these pivot levels, suggesting bullish momentum since February. However, traders should watch for new resistance levels around $1.20–$1.30 if the price continues to rise.
Moving Averages (MA):
50-Day SMA: Estimated to reach $1.133462 by May 16, 2025.
200-Day SMA: Projected to drop to $1.710298 by May 16, 2025.
Analysis: The current price is above the 50-day SMA forecast, indicating short-term bullishness. However, it’s below the 200-day SMA, suggesting the long-term trend remains bearish unless the price sustains above $1.71.
Relative Strength Index (RSI):
Current RSI (14): 43.40 (as of April 16, 2025), indicating a neutral market position (neither overbought nor oversold).
Analysis: An RSI below 30 would signal oversold conditions , while above 70 would indicate overbought conditions . The neutral RSI suggests the market is consolidating, with room for upward or downward movement.
Fear & Greed Index:
Current Value: 29 (Fear zone, as of April 16, 2025).
Bullish Case: If WLD sustains above $1.20, it could test $1.30–$1.50, especially with continued social media hype and positive AI-related news. The bullish flag pattern support a breakout.
Bearish Case: A failure to hold $1.00 could see WLD retest $0.68–$0.70 support, particularly if regulatory news or broader market downturns weigh on sentiment.
DYOR!!
