The Worldcoin crypto has shown remarkable price action on the daily chart, before around March 9th, 2024, the price was favoring bulls. However, WLD exhibited deterioration afterward as the price tumbled from a crucial level of around $11.75 on the chart. On the chart, the shift of wind in the bear’s hand showed a severe crash as it touched the resistance-based supply level and plunged towards lower levels.
Over the chart, the price formed a support at $4.50 by mid-April and started consolidating for the coming sessions; the bulls tried to recover but failed to do so under the bearish influence.
Worldcoin Crypto Indicators Analysis And Its Forecast
Furthermore, WLD is exhibiting bearishness and falling capacity as it slides below the 20-day and 50-day EMA bands. Depending on the selling pressure, the previously formed support at $4.50 could be taken down.
Similarly, WLD is exhibiting bearish performance, as MACD has trying to converge a bearish cross is anticipated, and the RSI is not close to the 30 level yet, meaning that the Worldcoin is not facing significant buying pressure and could continue to fall, in the coming sessions.
Overall on the daily chart, the Worldcoin is revealing bearish signs and signifies that it has the capacity to sink under bearish pressure. Likewise, it recorded bad results last week by (-16.00 %), signifying a steady downward movement on the daily chart.
At press time, WLD is experienced a 10.15% decline in the last 24 hours, and it is currently trading at $5.066. Therefore, if the Worldcoin crypto price fails to stay above the $4.50 level, it could decline further and hit lower lows on the daily chart.
However, if the demand for the Worldcoin asset price increases with the buyer’s interest rise, it could bounce back from the current level. Then, the next goal for the price is to break the $7.00 resistance, and breaking this would give an aim towards $11.00.
Summary
Worldcoin has exhibited a significant price decline, with the price dropping from a crucial level of around $11.75 to $5.066. The asset is showing bearish signs, with the potential to sink even lower.
Furthermore, if it fails to stay above the $4.50 level, it could plunge further, and at press time, it was experiencing a decline of -10.15% in the last 24 hours. The MACD is about to show a bearish cross, and the RSI indicates a lack of significant buying pressure, as well. However, if demand increases, the price could bounce back and aim to break the $7.00 resistance, with a further target of $11.00.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
