WLD Technical Analysis
Looking at the WLD chart, it is clear that the price of the coin has been trading within the downtrend since March 2024. The price is currently at the level of $0.90 and seems to have rebounded from the middle border of the channel and also the horizontal support channel at $0.85–$0.82.
The price currently trading around $0.85–$0.82 has reacted from this short-term support zone several times. However, if this support zone breaks downwards, then the selling pressure might increase, and the price might want to go down to the level $0.73–$0.67, which also coincides with the lower band of the descending channel.
Despite the scenario stated above, the price of the coin is likely to test the first strong resistance zone of $1.11–$1.21 in the event of upward movements. If the price breaks above this resistance and manages to hold above it, then the closest target might be the level of $1.52. The next major support zone will be the $1.92–$2.10 level.
To summarize, WLD is drawing close to the support line within the falling channel, and possible reactions from here might trigger a short-term price recovery upwards. The price needs to close above the level of $1.10 if the trend is to turn positive; or else, the downtrend might carry on.
These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
