Anin-depthanalysis ofWorldcoin’spricetrends,examining whetherit’spoised for a significant rebound or simply a passingfad.
Points
- Worldcoinhasexperiencedan80%declinefromitspeak.
- Thecoinistradingnearitslowestpointinsixmonths.
- Keylevelstowatchincluderesistanceat$3.20-$4.50andsupportat$1.80-$1.00.
Worldcoin（WLD）has faced consistent bearishpressure,resulting in an approximately80%decline from itspeak.The coin has been forming lower lows and lowerhighs,indicating breakdowns at crucial supportlevels.Currently,WLD is trading near its lowest point in sixmonths,just above critical support at$2.00.
TechnicalAnalysis
On the dailychart,WLD is confined within a falling wedgepattern.Despite the bearishtrend,the trading volume of WLD derivatives has risen by21.60%to reach$1.16billion,while open interest has remained nearly unchanged at$167.35million.Stable open interest and trading volume hint at potential buying interest at lower pricelevels.
KeyLevelstoWatch
ResistanceLevels:$3.20-$4.50
SupportLevels:$1.80-$1.00
A drop below$2.00would negate the bullishscenario,potentially pushing WLD towards$1.00.Conversely,breaking above the resistance levels could signal a potentialrebound.
Conclusion
Worldcoin’sfuture remains uncertain as it continues to struggle with bearishpressure.Investors should keep an eye on the key support and resistance levels to gauge potential pricemovements.The rising trading volume and stable open interest suggest that there might be buying interest at lower pricelevels,but caution isadvised.