Worldcoin ($WLD ) is making waves in the cryptocurrency market! After breaking free from a prolonged downtrend, WLD has successfully flipped key resistance levels into support, signaling a significant trend reversal on the daily chart. This impressive turnaround follows the establishment of a solid base near $0.60, setting the stage for a potential surge.
The recent price action has been remarkable, with WLD surging to a local high of $1.20 on April 26, before experiencing a slight pullback. Currently, the token is consolidating above $1.09, with its broader structure remaining bullish as previous resistance levels transform into new support zones.
Technical Indicators Point to Continued Upside
The 4-hour chart reveals that WLD is trading well above critical exponential moving averages (EMAs), with the EMA 20 at $0.98 and the EMA 50 at $0.88 acting as dynamic support zones in case of any dips. Momentum indicators are showing signs of cooling but not reversing, suggesting that the bullish trend is still intact.
- Relative Strength Index (RSI): Currently at 69.55, slightly below the overbought threshold, RSI indicates that while momentum might be easing, the broader trend remains favorable for bulls as long as it holds above 50.
- MACD: The MACD line at 0.08 continues to hold above the signal line at 0.06, with both positioned well above the baseline. Although the histogram has started to flatten, slipping from 0.028 to 0.016, it signals that momentum is slowing while the direction still favors the upside.
Bullish Narrative Reinforced
Worldcoin's price action continues to trade above the Ichimoku Cloud, reinforcing the bullish narrative. The lagging span is positioned above price candles, and the leading span is widening—both signs of a strong underlying trend. Additionally, the Bollinger Bands, which expanded during the breakout, are starting to contract, with price drifting toward the mid-band around $0.96, a level that historically acts as dynamic support during trend consolidations.
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