Worldcoin (WLD) Eyes Bullish Break Above $6; Monero (XMR) Targets This Next Price After Confirming Breakout
Worldcoin (WLD) and Monero (XMR) are showcasing bullish signals that could set the stage for potential gains. Worldcoin is currently testing a critical resistance zone, potentially positioning it for a breakout. Simultaneously, Monero has successfully broken out of a downward channel, eyeing a move towards higher price levels.
What you'll learn 👉
Worldcoin (WLD) Price Analysis
Worldcoin (WLD) has been garnering attention as it finds support at a key trendline, indicating a bullish stance. According to YG Crypto, WLD is targeting the $5.63-$6.13 resistance zone. A breakout above this area could trigger long entries for aggressive traders. This resistance level will be pivotal in determining WLD’s next move.
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Show more +@ygcrypto tweeted, “WLD is finding support at a key trendline, refusing to fall further. This is a bullish sign, but the real test will be at resistance. The price is eyeing the $5.63-$6.13 zone for $WLD. A breakout above this area could signal a potential long entry for aggressive traders.”
YG Crypto’s analysis suggests that traders should watch for a breakout above the specified resistance zone. A successful breakout could signal a strong upward movement, presenting a lucrative opportunity for traders. At press time, however, WLD trades at $4.86 marking a 3.80% price dip over the last day. This highlight the volatility imminent in the crypto space.
Monero (XMR) Price Analysis
Monero (XMR) has recently confirmed a bullish breakout from a Channel Down pattern, according to altFINS. This breakout was validated by a retest and a subsequent rebreak above $134. As a result, the price may soon revisit the $150 resistance level and the 200-day moving average.
Source: altFINS – Start using it today
In terms of trade setup and pattern, XMR’s price has been trading within a Channel-Down pattern. Traders can take advantage of this pattern by initiating trades as the price fluctuates within the channel’s trendlines. When the price breaks out above or below these trendlines, it often leads to rapid price movements in the direction of the breakout.
Analyzing the trend, the short-term trend for XMR is strongly up, while the medium-term trend is also up. However, the long-term trend remains strongly down. Despite this, the momentum is bullish, as indicated by the MACD line crossing above the MACD signal line.
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Regarding support and resistance, the nearest support zones for XMR are at $116.00 and $100.00. On the other hand, the nearest resistance zones are at $150.00 and $175.00. These levels are crucial for traders to watch as they provide potential entry and exit points.
Conclusion
Both Worldcoin (WLD) and Monero (XMR) exhibit significant trading opportunities. WLD’s key resistance at $5.63-$6.13 is critical for potential bullish movement, while XMR’s confirmed breakout signals a revisit to higher resistance levels.
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