Worldcoin’s native token WLD quickly rose more than 120% to around $0.64 after recovering from the strong buying zone in late May. Although the price retreated after the last peak, it is considered that the main upward structure has not yet been broken in the technical outlook.
The critical region where the rise begins
According to the data, the movement started with the maintenance of the demand zone between $0.2750 and $0.2900 between May 28 and May 30. In the same period, the rising trend line that has been followed since the May bottoms was also tested. When there was no downward break, buyers stepped in and the price moved up sharply.
With the support it received from the demand zone between $0.2750 and $0.2900, WLD rose from approximately $0.29 to $0.64 and surpassed all prominent resistance points in the process.
During this rise, market observers pointed out that the move was one of the clearest accelerations of recent weeks. The fact that the price exceeded the previous supply zones without a significant pause was cited as one of the factors supporting the short-term technical outlook.
Support and resistance levels are closely monitored
WLD was trading in the range of approximately $0.45 to $0.50 at the time of writing. The price area is located just above the $0.4400 to $0.4500 range, which previously served as resistance. Whether this zone can be maintained as support now is important for the next direction of the market.
If it persists above this level, the next resistance band is between $0.5200 and $0.5600. If this zone is breached, the possibility of a retest of the last peak of $0.6400 may increase.
| Level | Type | Importance |
|---|---|---|
| $0.4400 to $0.4500 | Support | Its protection is monitored during the first withdrawal |
| $0.5200 to $0.5600 | Resistance | Intermediate zone for upward continuation |
| $0.6400 | peak level | The point at which the last peak may be retested |
| $0.3500 to $0.3700 | lower support | Defensive area close to the rising trend line |
If a deeper pullback occurs, the ascending trend line between $0.3500 and $0.3700 stands out as an additional support area. According to technical analysis, as long as the price remains above this line, the recovery structure that started from the May bottoms can be maintained.
Long-term breakdowns and indicators
Daily Binance charts shared on the market show that WLD has broken above the descending trend line that has been suppressing the price for a long time. In technical analysis, such breakouts are considered among the early signals indicating that the long-term downtrend is weakening. Worldcoin is known as a project that aims for digital identity verification with iris scanning.
Mini dictionary: Fibonacci extension levels are used in technical analysis to predict to what levels price action may move beyond the current wave. EMA and SMA are moving averages that measure the direction of the trend by monitoring the average price in different periods.
While the overall outlook for WLDUSDT is “strong buy” in the TradingView technical summary, the moving averages continued to support the rise; On the other hand, RSI, MACD and similar oscillators revealed a more balanced picture.
In TradingView data, the 10, 20, 30, 50, 100 and 200 period moving averages, as well as the Hull moving average, VWMA and Ichimoku baseline, also produce positive signals. On the other hand, oscillators such as RSI, Stochastic, CCI, MACD and Williams %R give a more neutral appearance. This picture does not suggest that the market is tired after the strong rise, but rather that it has entered a consolidation phase.
In the short term, the focus remains on the $0.4400 and $0.4500 support. If this area is maintained, first the $0.5200-$0.5600 band and then the $0.6400 level can be expected to come to the fore again for WLD. However, it is also stated that the major directional movement may not become clear until there is a strong acceleration confirmation in the oscillators.
