The price of Worldcoin’s WLD has started to recover following the recent WLD price pullback. The retracement saw the price find support at around $2.7. This support seems to be strong, as the price can be seen wicking down on three different occasions and not being able to break through the level.
Following this, WLD bulls were able to take over and start an upward move again. The rally began yesterday, and since then, the price has spiked by 15%. What could be next for the price?
At the time of writing, WLD price is trying to break the next key resistance at around $3.2. For the rally to continue in the short term, this level will have to break. This breakout could see the price continue to rally towards the next key target at around $3.9, another 20% increase.
The level at $3.9 has also been significant, as the price was unable to break out of it in the earlier part of the rally. The inability to break out again could trigger sideways trading, with a possible price range between $3.2 and $3.9 until more buying pressure enters the market.
However, a breakout from the $3.9 key level would be seen as a stronger bullish signal based on technical analysis.
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The Relative Strength Index on the daily chart is at 55, indicating that there is still an opportunity for some bullish moves before the price enters an overbought position.
The 50-day and 100-day simple moving averages are below the price, rising steadily as the price moves up. They could potentially serve as support, indicating more bullish potential in the short and medium term.
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