Worldcoin Tests Breakout Confluence As Price Consolidates Near $1.18 Level

Worldcoin (WLD) is re-examining its breakout zone of around $1.18 following a 10% 24 hour crash, with key technical support.

The price is at an intersection point of 9-day EMA and downward trendline, which outlines a critical short-term structure.

The current level of resistance is at $1.31, and the token could potentially reach resistance of $1.35-1.50 provided that the token remains supported at levels of above $1.18.

In the last 24 hours, Worldcoin (WLD) fell significantly by $10.0 to trade at around $1.18. The price is currently on a very important confluence level created by both its multi-month descending trajectory and the 9-day exponential moving average (EMA). This region, which recently served as a breakout level, is now one of the essential support areas. Any kind of information on whether or not WLD will be able to continue with this structure following the recent decline in the market is keenly being observed by the players in the market.

According to the chart, the token has surpassed the long-standing descending resistance in late September, which led to a short-lived surge to the level of $1.85 before the reversal. The following pullback has now returned price action to the identical breakout area implying a possible test. This is a conclusive area to short-term momentum because the EMA and the trendline meet.

WLD Consolidates as Sellers Regain Short-Term Control Amid Lower Trading Activity

WLD is currently trading between $1.16 and $1.20 at the time of reporting and the immediate support is at $1.18. The recent trend of decrease began after a somewhat decreasing volatility, which means that sellers have obtained the short-term control. In the meantime, the 30-day simple moving average (SMA) of $1.24, and the 9-day EMA of $1.23 are currently located in close proximity to the current price, yet it indicates the significance of this technical level.

Interestingly, the volume data of the chart indicates a low activity as opposed to the September boom where trading volumes peaked at a high of over 750K units. This contraction means that traders will be taking a temporary breather to determine whether demand can be stabilized at support. The short-term bias is centered on structure preservation above $1.18 and it coincides with both the moving averages and the previous descending resistance.

Resistance Levels Define Near-Term Outlook

In the event WLD can retain above the present zone, there is a possibility of market shifting to the resistance close by at $1.31. At this ratio, technical trends provide the opportunity to be extended to $1.35-1.50, assuming that buyers can obtain a temporary boost in strength. Nonetheless, any prolonged fall to less than 1.18 would open the downside risk to the following horizontal zone to the 1.00 level.

At this point, the arrangement represents a traditional retest of a breakout zone with the help of intersecting technical levels. The successive sessions will outline whether the structure of WLD will be retained or continue to move downwards.