Worldcoin (WLD) has dropped by 19% to 20% at the time of this writing. At first glance, that might seem alarming, but if you dig into the chart, you’ll see we’re actually at a pretty exciting spot. This could be the perfect time to buy. Let me show you why.
Worldcoin (WLD) Market Update
Right now, Worldcoin is trading around $2.87. If you look closely at the chart, you’ll notice that the price is at its previous resistance levels. Why is this significant? These old resistance zones often become new support levels, meaning the price could stabilize and even bounce back up. The market is taking a breather before potentially making its next move.
Additionally, if we plot the Fibonacci retracement levels, we’re currently in what traders call the “buy zone.” This is a critical area where the price tends to reverse during pullbacks in an uptrend. It’s a classic technical setup, and seeing the price in this zone is usually a good sign for potential buyers.
Now, let’s talk about another indicator—the moving averages. On the chart, you’ll see a green line, which represents the 20-day moving average. Right now, the price is sitting just slightly below this line. Historically, when prices are near this level, it often signals a possible bounce. This gives us even more confidence that we might be looking at the start of a recovery.
But what’s even more exciting is the potential upside. If Worldcoin starts to gain momentum and moves higher, where could it go next? Let’s clear up the chart and map out the targets. The next key target is between $5.1 and $5.9 based on the price action and previous resistance levels. That’s nearly a 2x potential gain from where we are now!
Interestingly, if this move plays out, it could create a cup pattern, which is a strong bullish indicator. This pattern often leads to continued upward momentum, giving even more reason to watch Worldcoin.
Final Thoughts
Of course, while this setup looks promising, it’s essential to remember that the crypto market is highly volatile. Even the most well-researched analysis can’t guarantee results, so always manage your risk and invest only what you’re willing to lose.
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