Worldcoin (WLDUSD) Price Forecast: August 8
WLDUSD price will turn bullish soon and may likely retest the $2.5293 previous high as it is about to resume its bullish race. Therefore, if bulls could trigger their forces in the market, the price may likely reverse after long dips and turn positive to hit the $2.6000 upper high level and beyond.
Key Levels:
Resistance Levels: $2.2500, $2.3500, $2.4500
Support Levels: $2.2200, $2.2100, $2.0000
WLD (USD) Long-term Trend: Bearish (1H Chart)
The worldcoin pair is showing a bearish display in its long-term perspective. The price bars can be seen below the moving averages.
This is due to the high inflow of sell traders. However, there is about to be a turnaround for the WLDUSD buy traders.
The sustained pressure from bears at a $2.0990 support level during yesterday’s session has contributed to its bearishness in its recent low.
Increase action by the short traders to a $2.0243 low value below the two EMAs today, is a result of a low bullish momentum. Should the coin price turn up from the $2.0243 price level and jump above the $2.5293 supply mark, the bearish thesis would get invalidated.
Additionally, the price of WLDUSD might possibly turn bullish and move above its previous high at the $2.5293 value soon as the coin now points up in the oversold region. This will compel the bulls to resume the upward move sooner and in this case, the price might push higher to a $2.6000 supply mark and beyond in the days ahead in its long-term time frame.
WLD (USD) Short-term Trend: Bearish (15-Minute Chart)
According to the chart below, the short-term outlook for the Worldcoin market is in a bearish trend zone. It also indicates the impending next significant price shift.
The coin having dropped down to a low at a $2.0220 level in the previous action has been rejected by the bulls at the moment.
Commitment from bulls now retraced the WLDUSD price from the mentioned support to a $2.0389 high mark shortly after the 15-minute chart opens. This gave buyers more strength to continue with the trend.
A potential breakout from this trend line could intensify the bullish momentum and may surge the Worldcoin price to hit the $2.2674 previous barrier which will nullify any further bearish scenario.
Notably, the crypto has completed its correction and is now set for an upswing as indicated by the price signal pointing up.
Hence, a potential bullish crossover above the previous high of $2.2674 value projects a buy signal which may further extend to a $2.6000 upper high level in the days ahead in its short-term outlook.
Buy Worldcoin on eToro
Leave a Reply