The post Worldcoin up 31% in 6 days, flips $2.5 to support: Is $4.5 next? appeared on BitcoinEthereumNews.com.

Worldcoin had a strong short-term bullish expectation. The bearish divergence could be followed by a price dip toward $3.3. Worldcoin [WLD] has managed to flip the $2.5 resistance zone to support and targeted the $4.5 level next. The daily and weekly market structures were both bullish, although there was a bearish divergence for WLD. This could see a price dip in the coming days. The $3.26 level has been flipped to support as well, and a deeper retracement appeared unlikely due to the strong capital inflows. Moving average crossover captures Worldcoin bullishness Source: WLD/USDT on TradingView On the daily chart, WLD experienced a sharp downtrend from March to September, followed by a month of consolidation. Since the September lows, WLD has surged 198% as of press time. A significant portion of these gains occurred in the past ten days after the $2.5 resistance zone was breached. The $2.5-$2.9 zone has since been retested as a demand zone. Buyers successfully defended it, pushing Worldcoin past the $3.26 resistance, which was a lower high from July. The weekly market structure turned bullish following the breach of $3.26. The daily structure has been bullish since the second week of November after a late October pullback dropped the price to $1.589. The 20 and 50-day moving averages have formed a bullish crossover, likely serving as support in the event of a retest. The Money Flow Index (MFI) is at 81 and could form a bearish divergence, making a lower high compared to December 1st. The next target for the bulls is the $4.5 region, which had been a key support from April to June. Therefore, a rally beyond this level could take time to materialize, with consolidation beneath the resistance expected. Short-term sentiment remains firmly bullish Source: Coinglass While the bearish divergence warned of…

---

Filed under: News - @ December 7, 2024 4:14 am