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Worldcoin (WLD) Outlook: Key Support and Breakout Levels Identified

2 mins
Updated by Ryan Boltman
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In Brief

  • The price of Worldcoin is unable to break above the 4-hour Ichimoku Cloud.
  • The Tenkan line of the daily Ichimoku Cloud is the key resistance level to monitor.
  • In our previous analysis, we highlighted that Worldcoin (WLD) is struggling below the crucial $5.50 resistance level.
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Worldcoin (WLD) is currently experiencing a challenging phase, with its price action reflecting a bearish to neutral outlook.

This analysis will delve into the technical indicators and chart patterns highlighting key support and breakout levels for WLD.

Analysis of Worldcoin Technical Chart

The four-hour chart shows Worldcoin (WLD) trading in a relatively narrow range between $4.90 and $5.10.

There is a visible attempt to break above the 4H Ichimoku Cloud, but the price fails to sustain above it. Indicating strong resistance around the $5.10 level.

WLD/USDT (4H/1D): TradingView
WLD/USDT (4H/1D). Source: TradingView

The WLD price is currently below the Ichimoku Cloud, which suggests a bearish trend in the short term. The cloud acts as dynamic resistance, and the failure to break above it reinforces the bearish sentiment.

Read More: How to Buy Worldcoin (WLD) and Everything You Need to Know

On the daily chart, WLD is trading in a broader range. Significant resistance is around the $5.35 level, as indicated by the Tenkan plateau (in red) of the Ichimoku Cloud.

The price has been unable to break above the cloud multiple times, showing a persistent bearish trend. The cloud’s upper boundary, around $5.35, is strongly resistant. The continued inability to break above this level indicates ongoing bearish pressure.

Analysis of Worldcoin (WLD) vs Bitcoin (BTC) Technical Chart

The four-hour chart shows WLD/BTC in a downtrend, with the price making lower highs and lower lows.

Recently, the price has been consolidating near the 0.00007127 BTC level, indicating a potential base formation.

WLD/BTC (4H): TradingView
WLD/BTC (4H). Source: TradingView

The price of WLD against BTC is currently below the Ichimoku Cloud (4H), indicating a bearish outlook. The overall trend for WLD/BTC remains bearish as the price continues to trade below the Ichimoku Cloud.

The persistent inability to break above the Tenkan (red) line further supports the bearish sentiment. A break above the Tenkan-sen line (in red) could lead to a test of the lower boundary of the Ichimoku Cloud.

Strategic Recommendations Based on Previous Analysis

Bearish to Neutral Outlook

Worldcoin (WLD) is struggling below the critical resistance levels in both USD and BTC pairs, showing signs of weakness after failing to penetrate the Ichimoku Cloud. This bearish sentiment has led to widespread losses among holders, with short-term traders exiting to cut their losses.

The price of WLD against BTC is currently below the 4-hour Ichimoku Cloud. However, a break above the Tenkan line (in red) could trigger a price reversal to the upside.

Read More: Worldcoin (WLD) Price Prediction 2024/2025/2030

[In] our Previous WLD Analysis: Worldcoin (WLD) is struggling below the critical $5.50 resistance level. It is showing signs of weakness after failing to penetrate the daily Ichimoku Cloud. This bearish sentiment has led to widespread losses among holders, with short-term traders exiting to cut their losses.

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Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

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Adam Mourad
Adam, 23, is a full-time on-chain analyst and part-time trader in the Web3 space. He is the founder and CEO of 0nchained, an on-chain data reporting service. Adam started his journey with CryptoQuant, where he still works as an analyst. Over the past year, he has developed over 30 indicators and written more than 120 analyses. His passions include data and analytics, cryptocurrency, and supercars, particularly red Ferraris and yellow Porsche GT3s. His professional achievements are...
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