WLD Price Surged 12% Intraday; Can It Reclaim $10 Mark?

• Worldcoin price has risen by 38% in the past 4 days.
• RSI developed a golden crossover and the 24-hour trading volume increased by 70%.

Since March, the Worldcoin (WLD) price has lost around 80% and lost a major support level of $2. The bearish momentum has halted near the $1.50 level and the WLD price surged by 38% in a few days. The chart structure has witnessed slow and steady pushes from the downside. The price has exceeded the 20-day EMA and heading toward the 200-day EMA. Let’s see how the WLD price reacts near the 200-day EMA.

Could WLD Price Recover From Bottom or Sink Further?

When writing, the Worldcoin crypto was trading at $10.30 which has risen by 12% over the past 24 hours. The market capitalization was $1.23 Billion and the 24-hour trading volume was $398.08 Million.

After a sharp selling, the chart structure has generated a curve-like recovery. The WLD price has recovered the past 2 months’ losses in a week. This momentum is being supported by the RSI which could invite more buyers.

If the WLD crypto price extends to the 200-day exponential moving average (EMA), it may generate a bullish spark. Once the price sustains over the EMA, a loss recovery scenario can be developed. Here, trading volume might play a vital role. The rise in trading volume might boost the momentum.

On the contrary, the overall trend in bearish and the price was still below the 200-day EMA. If the Worldcoin price fails to exceed the 200-day EMA, a panic situation for buyers might be generated. Assuming the price starts trading below the 20-day EMA, sellers might continue the bearish trend further.

The RSI triggered a bullish crossover with the RSI-based moving average. It was heading toward the overbought zone which could tempt buyers for a trend reversal momentum. A bullish crossover was generated between the MACD and the Signal line, which was in positive terrirtory.

Breakout From Accumulation Zone; Can WLD Price Make it Big?

In a 4-H tome frame, the Worldcoin price has been rising by taking support on the trendline. The price has displayed a strong breakout from the resistance level of $2.

KNIGHT $INJ TO $100 (@Cryptoknight890) is a cryptocurrency analyst who has shared his analysis on X. He claims that a successful breakout from the accumulation phase might lead to a massive bullish momentum.

On the post tweet, the chart structure has displayed a breakout from the accumulation phase. If the digital asset price sustains over this zone, it could be a bullish scenario. If the investors get involved, it could witness a massive move and may recover previous losses.

WLD price surged recently. The technical indicators suggest that there is potential for a recovery from the recent bottom. The price surge, coupled with the RSI and MACD indicators, suggests a bullish momentum and a possible trend reversal.

However, it’s important to monitor the price’s reaction near the 200-day EMA and keep an eye on the trading volume.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.