Worldcoin (WLD) showed a 10.06% increase over the past 24 hours, prompting market interest in a potential breakout from a descending channel.
Technical Analysis and Market Trends
WLD chart shows a descending channel pattern where price respects the trend lines. Historical evidence suggests significant upward movements post-breakout.
Momentum Indicators and Price Forecasts
The MACD indicator shows the MACD line crossing the signal line, indicating a potential trend reversal. RSI returned to 42.23, showing increased buyer activity.
A breakout from the descending channel upwards could occur if RSI crosses above 50.Lucky (@LLuciano_BTC)
Support, Resistance, and Potential Targets
Current support zones are at $1.00–$1.20, with long-term support at $0.965. Resistance is at $1.50–$1.60, with breakout targets at $2.00–$2.50.
Worldcoin is at a pivotal level, with traders closely watching for price movements as WLD aims for a potential bullish breakout.
