Recently, attention has shifted to Worldcoin's price performance in the cryptocurrency market. Despite a consistent downtrend in recent weeks, investors remain hopeful for a potential resurgence. The importance of the $6.5 level is crucial in determining the future direction of Worldcoin. Maintaining above this level could signal the beginning of a new uptrend.

Worldcoin's (WLD) price has bounced back from the $6.5 level following a 43% correction. This correction could be seen as an opportunity for the bulls as the upward momentum appears strong. However, a dip below this level, particularly closing below the $6 psychological mark, could pose a challenge to the bullish outlook.

Looking at the weekly timeframe, Worldcoin's price has shown a clear downward trend. Yet, this trend may be influenced by overall market sentiment, with the primary trend potentially still upward. The prevailing positive market sentiment further supports the potential for an upward movement in Worldcoin.

The correction in Worldcoin's price could signify a healthy consolidation and recovery. Technical indicators suggest that the price is maintaining its uptrend on a weekly basis. Both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators point toward a continued uptrend.

Key Levels for Monitoring Worldcoin Price

A strong support level for Worldcoin's price is marked at $6.30. A retest of this level may be in the cards. Presently, the bullish momentum seems to be in control for Worldcoin. In such a scenario, a potential breakthrough past $7.00 could lead to encountering resistance at $8.56.

Surpassing this resistance level might propel the price towards the $11.97 peak and potentially set a new all-time high exceeding $12.00. This could result in further gains, presenting an appealing opportunity for investors.

In a bear scenario, if market control shifts, Worldcoin's price could drop below $5.30 and even test the psychological level of $4.00. A weekly candlestick close below this level could negate bullish predictions and reinforce bearish dominance.