In July, Worldcoin (WLD) managed a modest recovery after a prolonged selloff that erased over 96% of its peak value of $11.97 in 2024. This upward trend raised its price by 3% to 7%, reflecting renewed positivity in the broader cryptocurrency market. However, experts remain cautious, uncertain if this signals a long-term trend reversal.
Is a Key Technical Turnaround on the Horizon?
Opinions among market experts are varied regarding Worldcoin’s recent price movements. While some identify early signs of potential stabilization, others caution against hasty conclusions, fearing it might just be a pause before further decline. Technical analyst @that1618guy has observed a significant bearish divergence in the weekly Relative Strength Index (RSI) for WLD, reflecting skepticism about the strength of the ongoing rebound.
WLD is showing big bearish RSI divergence on the weekly timeframe, which raises further caution about the strength of the ongoing rebound.
Alongside this divergence, an easing in weekly volatility as WLD retests short-term exponential averages indicates that momentum has waned. The lack of a definitive market narrative further supports the notion that more consolidation could occur before any meaningful price rally takes place.
Can Worldcoin Conquer Resistance Levels?
Some experts, however, offer optimistic perspectives. Analyst @0xLogicalx emphasizes that Worldcoin might be in the initial stages of forming a longer-term rebound cycle. Historical analysis of crypto price movements shows that rallies often unfold in phases as assets gradually surpass significant resistance benchmarks.
At present, the weekly chart outlines critical resistance levels for WLD at approximately $2.20, $4.15, and $12. These milestones are well beyond its current status between $0.40 and $0.42, indicating that multiple favorable breakouts are required for these points to become actionable in future months.
- $0.23 marked the previous low.
- The current trading range is between $0.40 and $0.42.
- First resistance encountered at $2.20.
- Second resistance level occurs at $4.15.
- Major resistance capped at its prior high of $12.
From a derivatives trading viewpoint, a concentration of leveraged trades between $0.48 and $0.52 on platforms like Bybit outlines potential resistance clusters. Failure to break these zones could rejuvenate selling pressure. Broader signals remain ambiguous, as technical indicators show a neutral stance on various timeframes, yet long-term charts maintain a slight sell bias.
Worldcoin’s future trajectory could hinge on concerted efforts to hold above $0.40 while breaking past the $0.42 to $0.45 resistance zone. Achieving this would mark a newfound recovery phase, though current trends are seen predominantly as tentative steps rather than definitive bullish reversals.
