|

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:

Editor's Picks

Crypto Today: Bitcoin, Ethereum, XRP trade under sustained selling pressure despite mild ETF inflows

Cryptocurrency prices remain under pressure as a risk-off mood persists on Friday, with Bitcoin consolidating its losses above $62,000. Altcoins, including Ethereum and Ripple, are extending their weakness, trading near lower support levels around $1,600 and $1.12, respectively.

Bitcoin Weekly Forecast: After the bloodbath, everyone looks at $60,000

Bitcoin (BTC) hovers above $62,000 at the time of writing on Friday, weighed down by growing risk-off sentiment due to persistent geopolitical tensions in the Middle East and sticky macroeconomic uncertainty.

Cardano hits five-year low even as Hoskinson clarifies "break" isn't an exit

Cardano price is down 10% at press time on Friday, extending losses over 30% so far this week amid Charles Hoskinson's clarification that "break" isn't an exit. A reactionary spike in on-chain activity and social chatter, reflecting a strength of community, but fails to absorb the price decline.

Arthur Hayes' “Holy Trinity” is dead: Exits Zcash after Orchard Pool exploit

Arthur Hayes dumped his entire Zcash holdings on Friday, a day after selling his HYPE and NEAR holdings. Zcash is down 13% so far on Friday, extending the 26% drop from the previous day.

Bitcoin: After the bloodbath, everyone looks at $60,000
Bitcoin (BTC) hovers above $62,000 at the time of writing on Friday, weighed down by growing risk-off sentiment due to persistent geopolitical tensions in the Middle East and sticky macroeconomic uncertainty. The institutional sell-off continued to wreak havoc on capital flows, with spot Bitcoin Exchange-Traded Funds (ETFs) recording billions in outflows.