|

Worldcoin Price Prediction: WLD holds $5.30 in hopes for a good reversal

  • Worldcoin price correction is likely a blessing in disguise for late bulls as bullish sentiment remains intact.
  • WLD could bounce at $5.30, kickstarting a good reversal after a 43% correction.
  • A break and close below the $4.00 psychological level would invalidate the bullish thesis.

Worldcoin (WLD) price has recorded a steady series of lower highs on the weekly timeframe, although not enough to negate the predominant trend, which is still bullish.  With the broader market still clinging to positive sentiment, the AI crypto coin’s upward potential remains viable.

Also Read: Worldcoin price ploughs back nearly 35% of lost ground on speculation of GPT 5 launch

Worldcoin price coils up for healthy correction

Worldcoin price suffered a rejection from the $10.00 psychological level, with three lower highs to show for it. However, the primary trend (weekly timeframe) remains bullish with multiple technical indicators suggesting prevailing bullish sentiment.

For starters, the weekly Relative Strength Index (RSI) remains in bullish territory above the ‘50’ mean level, accentuated by the position of both the Awesome Oscillator (AO) and the Moving Average Convergence Divergence (MACD) in positive territory. Moreover, the MACD remains well above its signal line, reinforcing the bullish supposition.

The longer-term outlook for the Worldcoin price would be a revisit of the $5.30 support before a possible reversal north. With the bulls in play, this bounce could facilitate a flight of WLD price past the $7.00 threshold to confront the $8.56 blockade.

A breakdown of this roadblock would open the expanse for more gains, with the Worldcoin price likely to reclaim its $11.97 peak and potentially set a new all-time high above $12.00.

Notice that the Parabolic Stop and Reverse (SAR) indicator is trailing the WLD price below $4.80. As long as this price-tracking indicator follows an asset’s price from underneath, the odds will favor the upside.

WLD/USDT 1-week chart

On the other hand, if the bears recover the market, the WLD price could decline below $5.30, and the $4.00 psychological level could be tested. A weekly candlestick close below this threshold would invalidate the bullish thesis. 

Author

Lockridge Okoth

Lockridge is a believer in the transformative power of crypto and the blockchain industry.

More from Lockridge Okoth
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

AAVE slips below $186 as bearish signals outweigh the SEC investigation closure

Aave (AAVE) price continues its decline, trading below $186 at the time of writing on Wednesday after a rejection at the key resistance zone. Derivatives positioning and momentum indicators suggest that bearish forces still dominate in the near term.

Hyperliquid stabilizes amid plans to burn assistance fund

Hyperliquid (HYPE) stabilizes above $26 at press time on Wednesday after three straight days of losses. Hyperliquid Foundation has started a validator vote to reduce supply by burning the assistance fund, which holds over 37 million HYPE tokens.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple extend correction as bearish momentum builds

Bitcoin, Ethereum, and Ripple remain under pressure as the broader market continues its corrective phase into midweek. The weak price action of these top three cryptocurrencies by market capitalization suggests a deeper correction.

Ethereum Price Forecast: Active addresses plunge to May levels amid resumption in US selling pressure

Ethereum (ETH) weekly active addresses have plunged sharply in December, declining from 440K to 324K, levels last visited in May. The decline in active addresses has also pushed down the number of transactions on the network to July lows.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.