- Worldcoin (WLD) is trading at $0.84, continuing its downward trajectory below key resistance levels.
- The 4-hour chart shows a clear bearish setup with price below the 9 EMA and all major SMAs.
- Bulls are defending the $0.84 demand zone, but failure here could lead to a drop toward $0.80.
- A recovery above $0.91 and $0.94 is needed to shift momentum, but volume remains weak.
Worldcoin (WLD) is currently trading at $0.84, continuing its downward trend as bearish momentum strengthens across the broader crypto market. Over the past several weeks, WLD has struggled to hold key support levels and is now facing mounting pressure below multiple resistance zones.
Worldcoin Faces Strong Rejection at $0.94 Resistance
The 4-hour chart highlights a clear bearish structure, with WLD trading below the 9 EMA ($0.88) and key moving averages including the 20, 50, 100, and 200 SMAs. These moving averages have aligned in a downward slope, reinforcing the strength of the current selling pressure.
Following a sharp decline from late May highs above $1.50, WLD has consistently failed to break back above major resistance zones, most notably at $1.14, $1.02, and $0.94. Each of these levels has acted as a supply zone, rejecting bullish attempts and pushing the price lower.
Currently, WLD is testing a crucial demand zone around $0.84, where bulls are attempting to hold the line. A failure to defend this area could open the door to further downside, with the next support eyed near the $0.80 psychological level.
To shift the momentum, bulls would need to reclaim the 9 EMA and push above the $0.91 and $0.94 resistances. However, without a strong catalyst or volume surge, the path of least resistance remains to the downside.
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