Worldcoin (WLD) has gained attention in the crypto community as recent chart patterns suggest a bullish reversal could be underway. Crypto Mechanic, a prominent analyst, shared on X (formerly Twitter) that WLD’s current structure shows potential for a price surge to $4.
He expressed confidence in WLD’s upward trajectory, supported by key levels that signal a favorable structure for growth. This optimistic outlook has sparked interest among investors, many of whom are watching for potential buying opportunities on any pullbacks.
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Worldcoin Technical Analysis: Strong Support Levels Indicate Potential for Growth
WLD’s price chart reflects a prolonged downtrend that bottomed below $1.5, forming a rounding bottom pattern since mid-September. This technical formation is often a positive sign, indicating a shift in momentum from bearish to bullish.
The analyst identifies two crucial support levels at $2.071 and $2.203, suggesting these levels could act as a buffer for the asset in the event of a price dip. With these supports in place, WLD appears well-positioned to sustain upward movement, and the trend line following the pattern supports gradual price increases.
Moreover, for WLD to continue its bullish trend, it will need to break through resistance levels, with $3.675 identified as the first significant target. This level represents a possible selling point where traders may take profits, potentially causing some resistance.
Should the price manage to surpass this mark, the next resistance stands at $4.205. A successful move beyond these levels could signal even stronger buying interest, reinforcing the chart’s bullish outlook.
Analyst’s Perspective on Adding Positions
Crypto Mechanic expressed confidence in WLD’s structure and mentioned already holding a position. The analyst also indicated plans to add more WLD if the price dips, demonstrating a long-term bullish outlook.
This strategy aligns with the rounding bottom pattern, which typically supports accumulation before a potential breakout. The tweet highlights a positive sentiment toward WLD’s price prospects, with the analyst expecting continued upward movement.
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Bullish Structure and Market Sentiment
The rounding bottom pattern in WLD’s chart signals a potential trend reversal, aligning with broader market optimism surrounding the asset. The support and resistance levels identified on the chart provide key zones for traders to watch as WLD continues to attract interest.
With Crypto Mechanic’s analysis reinforcing the bullish structure, many investors are monitoring WLD’s price action to capitalize on potential gains. If WLD maintains its current momentum, a rise to $4 could be on the horizon, making it an asset to watch.
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