Worldcoin’s ($WLD ) recovery is facing selling at $1.65, but a minor positive is that the bulls have not allowed the price to dip below the 20-day EMA ($1.20).
The upsloping moving averages and the RSI in the positive territory indicate an advantage to buyers. If the price turns up from the current level or the 20-day EMA, the bulls will again attempt to shove the price above the $1.65 resistance. If they can pull it off, the WLD/USDT pair could rally to $2.50. There is resistance at $1.89, but it is likely to be crossed.
This positive view will be invalidated if the price turns down and breaks below the 20-day EMA. The pair could then decline to the 50-day SMA ($0.99).
The bears have pulled the price below the 20-EMA, indicating the start of a deeper correction toward the 50-SMA. The bulls will try to start a rebound off the 50-SMA but are likely to meet stiff resistance at the 20-EMA. If the price turns down from the 20-EMA and breaks below the 50-SMA, the pair could plunge to $1.09.
The first sign of strength will be a break and close above the downtrend line. The pair could then rise to $1.52 and subsequently to $1.65.
$WLD WL$$$D/USDT daily chart. Source: Cointelegraph/TradingView
