$WLD looks nice
Looking at WLD/USDT weekly chart on Binance and here’s a breakdown:
1. Market Structure Analysis (Weekly)
Trend Context:
Previous downtrend: Long series of lower highs and lower lows, bottoming out around $0.573.
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Current shift: Price has broken above the recent structure high around $1.013–$1.20, showing a potential market structure break (MSB) or trend reversal.
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Key Observations:
Higher Low Formation: After bottoming at $0.573, the asset formed higher lows and now higher highs — early signals of an uptrend.
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Break of structure: Recent candle closed significantly above a previous swing high, confirming bullish intent.
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Volume spike: Rising volume with green candles indicates strong buyer interest and potential continuation.
2. Fibonacci Retracement Insight
Assuming a retracement from the high (~$3.16) to the low (~$0.573):
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Fibonacci levels:
23.6% ≈ $1.19
38.2% ≈ $1.51 (current price is near this)
50% ≈ $1.87
61.8% ≈ $2.23
78.6% ≈ $2.70
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Implication:
Price is currently testing the 38.2% retracement level, often a key resistance zone in a retracement rally.
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A strong break and close above ~$1.55 with volume could open the way toward the $1.87 (50%) and $2.23 (61.8%) levels.
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3. RSI Analysis
RSI (6) ≈ 68.5 — approaching the overbought zone but not quite there.
This suggests momentum is strong, but be cautious of short-term pullbacks.
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Strategy Idea
Bullish bias:
Break of bearish structure, higher lows forming.
Volume supports bullish move .
Price nearing a critical Fib level.
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Possible Strategy:
Pullback Entry: Wait for a retest near $1.30–$1.40 (support zone and below 38.2%) before entering long.
Breakout Entry: Enter on strong close above $1.55 with volume, targeting $1.87 and $2.23.
Stop-loss idea: Below recent higher low, e.g., $1.00 area.
