WLD token is showing a cup-and-handle pattern on its chart, a signal often associated with bullish rallies, indicating a potential price rise to $7.
WLD’s Cup-and-Handle Pattern
The WLD token is displaying a classic cup-and-handle pattern on the weekly chart, recognized as a sign of growing bullish momentum. This technical structure spans from June 2024 to January 2025, featuring a pronounced 'cup' followed by a compact 'handle'.
Targets and Key Resistances
The depth of the cup often forecasts the price target in such breakouts. For WLD, the formation included a steep 69% decline to $1.28, where strong support was established. A successful breakout could lead to a similar 69% rally, targeting $7. However, key resistances at $2.60 and $4.20 must be overcome first.
Indicators and Market Momentum
The current RSI level is 49.93, and the MACD's bullish crossover suggests increasing momentum, supporting the possibility of a price surge.
The cup-and-handle formation suggests that WLD might reach $7 if resistances are surpassed. Technical indicators point to positive momentum.
