The Worldcoin price had made a huge noise within the markets as it broke above the descending pattern. While the market participants believed the token reached $3 without any bearish interference, the token began to consolidate around a narrow range.
Worldcoin price on the lower time frame has entered a crucial zone, which could uplift the token’s price by another 50%. Here’s how traders can capitalize on the upcoming WLD price move.
The Worldcoin price after a phenomenal bull entry has been ranging within a narrow region, without any bearish interferences. The token’s price, as anticipated, quickly ascended & reached the levels of $3 without any hindrance. However, post this rally, the token’s price began to consolidate, which limited the further price ascent.
Now, as the market participants anticipated a bearish interference, the token’s price has entered into a bullish range, which is expected to elevate the WLD price by another 50% & reach the levels of $3. The bulls have been defending the local support at $2 for the past couple of days, which suggests they continue to remain vigilant over the prevailing price action. Although the rally is yet to validate a fresh upswing, the current trade set-up suggests the upcoming breakout could be a massive one. Now that the market dynamics are changing and shifting in favor of the bulls, will the WLD price reach $3 before the end of the month?
Worldcoin Price Gaussian Channel suggests a Potential Bull Entry
The Gaussian channel continues to remain bearish, but the price has entered the channel from the bottom and pierced above the upper channel. This suggests a potential reversal zone and hence if the channel shifts to green, the reversal could be validated. Therefore, the WLD price needs to remain consolidated above the channel until the bulls trigger the next ascending trend. However, the main concern lies within the RSI, which has failed to enter the overbought region.
The Worldcoin price has experienced a significant rise in volume in the past week, suggesting a notable rise in trading activity. This indicates that the market participants are vigilant over the prevailing price action and are believed to jump in at the right time. The initial resistance for the Worldcoin price is around $2.443, which has to be secured during the weekend. This move may allow the WLD price to reach $3 in the first few days of Q4; otherwise, the horizontal consolidation may persist for a long time.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.