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Worldcoin ($WLD) is currently experiencing a challenging phase, with its price action reflecting a bearish to neutral outlook.
This analysis will delve into the technical indicators and chart patterns highlighting key support and breakout levels for $WLD.
Analysis of Worldcoin Technical Chart
The four-hour chart shows Worldcoin ($WLD) trading in a relatively narrow range between $4.90 and $5.10.
There is a visible attempt to break above the 4H Ichimoku Cloud, but the price fails to sustain above it. Indicating strong resistance around the $5.10 level.
The $WLD price is currently below the Ichimoku Cloud, which suggests a bearish trend in the short term. The cloud acts as dynamic resistance, and the failure to break above it reinforces the bearish sentiment.
Read More: How to Buy Worldcoin ($WLD) and Everything You Need to Know
On the daily chart, $WLD is trading in a broader range. Significant resistance is around the $5.35 level, as indicated by the Tenkan plateau (in red) of the Ichimoku Cloud.
The price has been unable to break above the cloud multiple times, showing a persistent bearish trend. The cloud’s upper boundary, around $5.35, is strongly resistant. The continued inability to break above this level indicates ongoing bearish pressure.
Analysis of Worldcoin ($WLD) vs Bitcoin ($BTC) Technical Chart
The four-hour chart shows $WLD/$BTC in a downtrend, with the price making lower highs and lower lows.
Recently, the price has been consolidating near the 0.00007127 $BTC level, indicating a potential base formation.
The price of $WLD against $BTC is currently below the Ichimoku Cloud (4H), indicating a bearish outlook. The overall trend for $WLD/$BTC remains bearish as the price continues to trade below the Ichimoku Cloud.
The persistent inability to break above the Tenkan (red) line further supports the bearish sentiment. A break above the Tenkan-sen line (in red) could lead to a test of the lower boundary of the Ichimoku Cloud.
Strategic Recommendations Based on Previous Analysis
Bearish to Neutral Outlook
Worldcoin ($WLD) is struggling below the critical resistance levels in both USD and $BTC pairs, showing signs of weakness after failing to penetrate the Ichimoku Cloud. This bearish sentiment has led to widespread losses among holders, with short-term traders exiting to cut their losses.
The price of $WLD against $BTC is currently below the 4-hour Ichimoku Cloud. However, a break above the Tenkan line (in red) could trigger a price reversal to the upside.
Read More: Worldcoin ($WLD) Price Prediction 2024/2025/2030
[In] our Previous $WLD Analysis: Worldcoin ($WLD) is struggling below the critical $5.50 resistance level. It is showing signs of weakness after failing to penetrate the daily Ichimoku Cloud. This bearish sentiment has led to widespread losses among holders, with short-term traders exiting to cut their losses.