The cryptocurrency industry continues displaying bullish price action, indicating increased buying pressure within the crypto space. Moreover, top altcoins successfully recorded a bullish reversal in their respective charts, suggesting a positive outlook for the market this week.
On the other hand, the WLD price has successfully concluded the previous week on a bullish note adding approximately 27% to its portfolio. Moreover, the altcoin has recorded a jump of 16.24% within the past day, highlighting a positive start to the week.
After displaying a neutral trend for the first month of 2024, the Worldcoin price witnessed a significant surge in its valuation as the bullish sentiments for the AI category increased. This resulted in the WLD token jumping over 455% and recording a new all-time high (ATH) of $11.820 on 10th March.
Following this, the bulls lost momentum and recorded a correction of 62.775% in valuation. Since then, the Worldcoin token has been trading in a closed range between $4.40 and $6.025.
Positively, the EMA 50-day shows a bullish convergence in the 1D time frame, suggesting a high possibility of positive price action for this altcoin in the coming time.
The technical indicator, MACD, displays a rising green histogram, indicating a strong positive influence in the crypto industry. Furthermore, the averages show a bullish curve, suggesting the price will continue gaining value during this week.
If the bulls push the WLD price above the resistance level of $6.025, it will continue rising and test its upper resistance level of $7.650 this week. Maintaining the price at that level will set the stage for Worldcoin price to attempt to test its upper high of $9.160 over the upcoming weekend.
Conversely, if a bearish trend reversal occurs, the WLD token will lose momentum, start trading under a negative price sentiment, and fall toward its crucial support level of $4.40.
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