Worldcoin (WLD) Shows Resilience At Support – Is the Bearish Run Over?

• The TD Sequential “9” buying signal means WLD’s downtrend may soon exhaust, foreshadowing an upcoming price reversal.
• WLD is holding support near $1.20-$1.30, while $1.50 and $2.00 are being tracked as resistances.
• Rising volume together with RSI action indicates buying pressure, so the next two sessions are going to be crucial for WLD.

Worldcoin (WLD) appears to be creating a potential reversal as various technical indicators indicate buying. After weeks of unrelenting downtrend, the price has found support at $1.20, giving bulls cause to smile. A TD Sequential buying signal, together with accumulating volume, has experts opining that bearish momentum may soon recede.

Technical Indicators Hint At Reversal

Crypto analyst Ali_charts suggested that Worldcoin is showing signs of revival, drawing attention to a TD Sequential buying signal on the chart over the longer term. According to his analysis, the recent downtrend may be losing steam, as buying power seems close to $1.2869.

A crucial indicator observed by recent chart analysis is the presence of a TD Sequential “9” buying setup, indicating that the prolonged downtrend has entered an exhaustion phase. The signal indicates sellers losing momentum, potentially paving the way for buyers to regain control.

The Bollinger Bands indicate high volatility, with WLD trading near the lower band at $0.93, often seen as an oversold region. A move above the middle band at $2.20 could confirm an upward breakout. The Relative Strength Index (RSI) stands at 39.01, still below the neutral 50 mark, but traders are watching for a rebound that could signal a bullish shift in momentum.

Support and Resistance Levels

WLD has stayed over an important support level of $1.20-$1.30. The level has repeatedly been tested and support here may play an important role in any reversal. A break over the $1.30-$1.35 level, supported by heavy volume, could move the price toward higher resistance levels of $1.50 and $2.00.

If WLD does not find support near $1.28, it may drop back down toward $1.16, maybe even $1.00. A close below $1.16 this week would validate bearish momentum and send it further down toward the lower Bollinger Band level near $0.93.

Market Sentiment and Future Outlook

Trading volume has risen to 4.73 million, showing increased buying interest in WLD at these price points. The general sentiment in the markets seems mixed, with wary optimism over the TD Sequential buying signal.
WLD has recorded a minimal price boost over the past 24 hours, representing an increase of just 0.12%, while the last one-week period shows an increase of 4.63%. While short-term price action is unclear, technical indicators’ confluence shows WLD rests at an inflection.