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May 22, 2024
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Worldcoin Hints A Potential Bullish Reversal! WLD Price To Record New High Soon?

The post Worldcoin Hints A Potential Bullish Reversal! WLD Price To Record New High Soon? appeared first on Coinpedia Fintech News

The cryptocurrency industry continues to display mixed sentiment as the top tokens continue to record a constant increase in selling pressure. Moreover, top altcoins continue to hover close to their important support levels, indicating a high possibility of the industry concluding this month on a bearish note.

On the other hand, Worldcoin price has recorded a jump of 9% within the past day but has recorded a correction of approximately 24% within the past seven days and 45.74% over the past 30 days. Positively, the YTD of this altcoin stands at +38.61%, indicating a positive outlook in the long-term perspective.

WLD Token Holds Its Price Above The Important Support Level!

The Worldcoin displayed a neutral trend by trading in a closed range between $1.70 and $2.91 for the first two months of 2024. As the volatility in the market grew, the bulls gained momentum and jumped over 443% within 32 days, resulting in the WLD token recording a new ATH at $11.820.

WLD Price Analysis
TradingView: WLD/USDT

However, the bulls lost momentum after recording the ATH. Since then, the price has traded under a bearish influence, highlighting increased selling pressure in the crypto industry. Furthermore, the SMA shows a constant descent, suggesting a negative price action for the WLD price in the coming days.

The technical indicator, MACD, shows a constant red histogram in the chart, highlighting a bearish price sentiment in the crypto space. Moreover, the averages display a steady decline, suggesting a negative price action for the altcoin in the coming time.

Will Worldcoin Price Rise Back Up?

If the market holds its price above the support level of $4.40, the bulls will regain momentum and test its resistance level of $6.37. Maintaining the price at that level will set the stage for Worldcoin to attempt to test its upper resistance level of $7.65 during the upcoming week.

Conversely, if a bearish trend reversal occurs, the price will break down its support level at $4.40 and fall to test its low of $2.915 in the coming time.

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