bullish

Future

Worldcoin

Resistance

<ul class="wp-block-list">
 <li>Worldcoin (WLD) hits $3.59, meeting its head-and-shoulders target; analyst Ali advises booking profits as resistance nears.</li>  
 <li>A breakout above key Fibonacci levels signals bullish momentum for WLD, but $3.92 resistance could test the rally’s strength.</li>  
 <li>Ali highlights the trendline breakout as a turning point, urging traders to monitor reversals and secure gains in volatile markets.</li> 
</ul>  
<p>Worldcoin has reached the target of its head-and-shoulders pattern, signaling a potential shift in market momentum. The cryptocurrency's recent <a href="https://coinmarketcap.com/currencies/worldcoin-org/" target="_blank" rel="noopener noreferrer nofollow">price action</a> indicates that it might trend higher, but now is a good moment to book profits, according to analyst Ali. The price has surged to $3.59, indicating a 22.05% increase in the most recent session and significant optimistic enthusiasm.</p>  
<h2 class="wp-block-heading" id="h-price-rebounds-after-prolonged-downtrend">Price Rebounds After Prolonged Downtrend</h2>  
<p>The WLD/USDT pair on Binance <a href="https://cryptonewsland.com/gala-breaks-the-downtrend-surpasses-targets/" target="_blank" rel="noopener noreferrer nofollow">initially suffered a downtrend</a>, plunging 60.60% from a high near $12 to a low of $1.28. This sustained selling pressure marked weeks of bearish activity. However, the asset stabilized at nearly $1.28, forming a base for recovery.</p>  
<p>A breakout above the descending trendline signaled the end of the downtrend, coinciding with a rise above the 0.236 Fibonacci retracement level at $2.17. This marked the start of a bullish phase, which gained momentum as the price climbed past $3.01, the 0.382 Fibonacci retracement level.</p>  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeMGU03oLVvCZOS7SKa_-kn3dPbUEXDxLFHTCNCSKGCNRCFnsc6XsrbXqxNe2OAhaXjAkifT_NtX6jUDjIdI9JJnstyO8XgHL7x7EsSM7zvfgFHL5533WnVS2kp1MttyC5JisKWog?key=8ARTyGsqBnkANqX_iTguyuI4" alt="">
</figure>  
<p>Source: <a href="https://coinmarketcap.com/currencies/worldcoin-org/" target="_blank" rel="noopener noreferrer nofollow">Ali</a></p>  
<h2 class="wp-block-heading" id="h-approaching-critical-resistance">Approaching Critical Resistance</h2>  
<p>Currently, WLD is nearing the 0.5 Fibonacci retracement level at $3.92, a critical resistance zone. This recovery phase <a href="https://cryptonewsland.com/bitcoin-and-ethereum-etfs-see-major-inflows-with-99-million-boost/" target="_blank" rel="noopener noreferrer nofollow">reflects growing buyer interest</a> and improving market conditions. Each Fibonacci level has served as resistance during the upward trajectory, emphasizing the importance of these levels in technical analysis.</p>  
<p>Moreover, the steep price increases highlight significant bullish sentiment. Ali notes that the breakout above the trendline was a turning point, suggesting market participants are regaining confidence after the prolonged decline.</p>  
<h2 class="wp-block-heading" id="h-future-outlook-and-profit-taking-strategy">Future Outlook and Profit-Taking Strategy</h2>  
<p>As WLD approaches $3.92, further resistance could emerge, testing the strength of the ongoing bullish trend. Ali advises <a href="https://cryptonewsland.com/upbit-launches-pepe-trading-pair-sparking/" target="_blank" rel="noopener noreferrer nofollow">traders to consider booking profits</a> as the asset has met the target of the head-and-shoulders pattern.</p>  
<p>Consequently, traders should watch key levels closely for potential reversals or further momentum. Besides, the absence of volume data in the analysis suggests relying on price action to gauge market dynamics.</p> 
<p>The post <a href="https://cryptonewsland.com/worldcoin-rebounds-strongly-analyst-ali-warns-of-critical-resistance-ahead/" rel="noopener noreferrer nofollow">Worldcoin Rebounds Strongly, Analyst Ali Warns of Critical Resistance Ahead</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Worldcoin Rebounds Strongly, Analyst Ali Warns of Critical Resistance Ahead

Table of Contents

Crypto News Land

Other articles published on Dec 1, 2024

Crypto: Are memecoins a red flag for Web3?

South Korea’s Democratic Party agrees to delay crypto tax by 2 years

Best New Meme Coins to Join This Weekend: BTFD Coin’s Presale Hits New Record, Moodeng and Ponke ...

Balaji Srinivasan proposes Zethereum to boost Ethereum privacy using ZK tech

How Does the 5-Tier Referral Program Work in the iFasst Ecosystem?

Memereum Enhances Accessibility with New Payment Methods as Community Engagement Grows

Join our free newsletter for daily crypto updates!