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WorldcoinThe coin’s recent failure to break the $2.15 resistance level has put the symbol under renewed downward pressure, leaving investors wondering if a longer-term downtrend might be unfolding. The $2.15 mark has become a major battleground, with sellers pushing prices lower every time buyers try to break out. While Worldcoin is struggling to get it back Upward momentumHowever, the risk of further declines is increasing, indicating potential challenges ahead.
This article aims to explore the implications of Worldcoin’s recent struggle at the $2.1 resistance level and assess whether it could signal an extended downtrend. By analyzing technical and current indicators market Dynamics, we will evaluate the potential risks and opportunities for Worldcoin, and offer traders insights into what may lie ahead for the token’s price movement.
Technical indicators indicate the possibility of a continuation of the extended downtrend
On the 4-hour chart, WLD price is showing negative momentum, trading below the 100-day simple moving average (SMA) as it heads lower towards the $1.27 support level. A continued decline towards the $1.27 support indicates that selling pressure is building, and if the support fails to hold, Worldcoin could face more He refuses.
Also, the 4-hour Composite Trend Indicator for WLD is showing bearish signals, with the SMA line crossing below the signal lines and approaching the oversold zone, indicating that sellers are becoming more dominant. As the indicator approaches the oversold zone, it reflects rising selling pressure, which increases the possibility of a downward trend.
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On the daily chart, Worldcoin is showing strong bearish momentum, characterized by a bearish candlestick pattern after a failed attempt to break through the resistance at $2.15, indicating increasing selling pressure and that the asset may continue to decline.
In addition, WLD is currently facing challenges as it attempts to break below the 100-day simple moving average, a leading indicator that typically indicates a pessimistic trend when it breaks. If WLD manages to close below this level, it could confirm the negativity further Feelings in the market, which may lead to additional selling and continued decline.
Detailed analysis of the one-day Composite Trend Index shows that WLD is likely to face extended losses. The signal line has crossed below the SMA line and is trending down toward the zero line, indicating a negative shift in momentum. If the downtrend continues, Worldcoin may face significant difficulties in recovering, resulting in a prolonged period of declining price action.
Worldcoin Price Forecast: Will the Bears Maintain their Control?
As Worldcoin faces increasing downward pressure after being rejected at the $2.15 resistance level, key support areas become essential to monitor. If the bears continue to assert their dominance, they may be able to do so pays The price fell to the $1.27 support level.
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A break below this level could lead to further losses, possibly testing other support levels and intensifying pessimistic sentiment in the market. Conversely, if support persists, it may restore confidence among buyers and create an opportunity for a settlement Price recovery.
Featured image from YouTube, chart from Tradingview.com