Worldcoin (WLD) continued its long-term downtrend and fell below key support levels on its daily chart. The Crypto Fear & Greed Index showed
While the recent increase in volume and Open Interest showed a slight bullish edge, the broader market sentiment remained bearish.
However, a few triggers can provoke a short-term recovery. WLD traded at around $1.63 at press time, up nearly 10% in the last 24 hours.The ongoing downtrend put WLD below all major EMAs toward its 11-month low, with the 20-day EMA at $1.67, the 50-day EMA at $2.08, and the 200-day EMA at $3.42.The current price action suggests that WLD is struggling to break above the 20-day EMA, which could be crucial for a sustained recovery.
The RSI hovered below the 50-mark and showed a slight bearish edge at the time of writing. Buyers should look for a potential close above equilibrium to gauge the chances of an immediate recovery.The immediate resistance is at the 20-day EMA . If WLD can break and hold above this level, the next target would be the 50-day EMA at $2.08, followed by a potential test of the 200 EMA level.
This suggested growing interest in WLD, but the question remained whether this was driven by buyers stepping in or more sellers looking to short the asset.
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