Worldcoin (WLD) continues to show bullish strength, as buyers remain in charge and continue to drive the Worldcoin price upwards. Technicals indicate that there is room for a healthy retracement following the strong rally seen in Worldcoin. Bulls continue to dominate the market action until such time as the key support is broken.
At the time of writing, WLD is trading at $0.4610 with a 24-hour trading volume of $755.83 million and a market capitalization of $1.58 billion. Despite the 5.52% loss over the last 24 hours, the WLD price structure and bullish technicals point to a reversal ahead.
Source: CoinMarketcap
Also Read: WLD Price Gains Momentum, Bullish Target Set at $0.414 Resistance
Worldcoin price Eyes $0.80 as Bullish Momentum Builds
Furthermore, the crypto analyst Crypto Tolga revealed that the Worldcoin price continues to ride on the bullish trend, according to the analysis of its technical structure.
Experts note that as long as the Worldcoin price remains above the level of 0.38 as support, the trend is not changing. In other words, the cryptocurrency is showing stability, allowing the buyers to remain in control.
Source: Crypto Tolga’s X Post
As optimism rises, traders have been eyeing the $0.80 level as their next goal towards the upside. Provided that buyers continue to show interest, along with Worldcoin prices trading above 0.38, there is a possibility of further gains moving forward. Failure to do so may put the bullish trend to the test.
MACD and EMAs Point to a Bullish Outlook
According to TradingView, the Worldcoin price has made a spectacular turnaround following a continuous downtrend. From a low of 0.22500 in May, it rose sharply to breach the level of 0.60000 in June.
The Worldcoin price is retracing to move closer to 0.46050, approaching technical support from the 20-day and 200-day EMA lines.
Source: TradingView
The MACD indicator, which is displayed at the bottom, displays visible changes in momentum. Even though both the MACD and its moving average remain above zero, despite the strong rally recently observed in the Worldcoin price, the speed of upward price movement has slowed down significantly, with shorter histogram bars reflecting reduced buyers’ interest.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: WLD Price Analysis: Critical $0.70 Resistance Zone Could Decide Next Move
