After a parabolic recovery, the Worldcoin price breached the resistance zone that flashed a huge possibility of gaining a double-digit figure in the upcoming days. Meanwhile, the rejection at $4.2 caused the rally to shed off over 50% of its gains, bringing the token back to its initial levels. However, the WLD price has begun to rise and is about to undergo a parabolic recovery, keeping the bullish hopes alive.
The change in market dynamics appears to have kept the whales more vigilant over the price action. Data from Santiment indicates millions of WLD have been transferred to Binance and Okex, which has raised some eyebrows as it fuels a bearish trajectory. The tokens moving back into exchanges is not good for the healthy rally as it could promote a potential sell or swap action. Therefore, it is important to keep an eye on the WLD price rally that is heading towards the pivotal resistance zone.
The WLD price found a support base at $2 and, after accumulating gains around the range, triggered a notable rebound. Although the volume remains above the average range, favouring the bulls, the bearish possibility looms over the rally. The Gaussian channel that helps to identify the trend patterns has just flipped bearish, which raises concerns over the next price action. Besides, the RSI, which is undergoing a parabolic recovery, also shows a possibility of a breakdown.
Therefore, the Worldcoin price is expected to face bearish pressure, which may marginally drag the levels below $2.5. Meanwhile, support at $2.417 seems to be extremely strong, which may help the price trigger a strong rebound shortly elevating the levels to the resistance zone between $2.9 and $3.05. Beyond this range, the WLD price may not face strong resistance, which may be equivalent to a discovery phase. Hence, the bulls are required to manifest acute strength at these levels and secure the levels above $4.
Meanwhile, a rise above the 2024 highs at $4.16 may pave the way for the Worldcoin (WLD) price to achieve levels above $5, which is significant to reclaim a double-digit figure.
