WLD (WorldCoin) is in a long-term downtrend and is currently trading at a critical point at $0.84, close to the lower limit of the channel. At this point, the reaction of the price will be decisive in terms of the direction of the trend.
If there is a strong reaction from here, the price may first head towards the $1.27 resistance. Breaking the $1.27 level and working as support may bring the $1.84 - $2.07 range to the agenda.
An upward break of the formation may cause the price to move to $2.92 and above in the medium term.
Although the fact that the price is in the lower band of the channel indicates that a strong reaction rise may come, maintaining these levels is critical. In possible declines, if the $0.84 support is lost, the price may retreat to $0.70.
If it falls below $0.70, a deeper downtrend may begin and the formation may lose its validity.
In summary, the future direction of WLD will depend on the reactions it will give in the support areas. Therefore, price movements should be followed carefully and large movements should not be expected before the resistance breaks are confirmed.
These analyses, which do not provide investment advice, focus on support and resistance levels that are thought to create trading opportunities in the short and medium term according to market conditions. However, the user is completely responsible for trading and risk management. In addition, it is strongly recommended to use stop loss in relation to shared transactions.
Author: Ilahe
