Worldcoin's token WLD rose approximately 30% over the past week, from $0.231 to $0.7134, breaking out of its consolidation range that had lasted for several weeks. The price subsequently retreated to around $0.65, but remains above the previous breakout area, indicating that the short-term bullish trend has not yet been broken.
After breaking through, it fell back to around $0.65.
This rally broke through the resistance zone of $0.5786 to $0.6200, as well as the $0.6331 level. The area that previously suppressed price rebounds has now become a support zone that the market is currently observing.
The AMBCrypto article mentions that WLD's recent upward movement was driven by AI narratives, with the price briefly reaching $0.7134. As some funds took profits, the momentum slowed, and selling pressure pushed the price back down to around $0.65.
$0.6628 becomes a key level
From a daily chart perspective, $0.6628 has been a crucial dividing line for WLD over the past seven months. This level acted as support before it was broken last November, and has since repeatedly proven to be a resistance zone for rebounds.
This means that although WLD has returned to this area, the market has not yet confirmed a true upward breakout. If the price can continue to hold above $0.6628, the ongoing downward trend that has persisted since the end of last year will be challenged.
- The recent high was $0.7228.
- The recent pullback level is around $0.65.
- The key level to watch is $0.6628.
The breakout zone remains a short-term support level.
The article also points out that the current pullback has not yet broken below the breakout zone of $0.5786 to $0.6200, therefore the broader rebound structure remains intact. The recovery that began in April from around $0.20 has not yet been broken.
In terms of momentum indicators, the RSI has cooled down from its previous high, alleviating the short-term overheating, but it is still in a relatively strong range. If WLD continues to encounter resistance around $0.6628, it may re-enter a consolidation phase; if it holds above this level, it is expected to further strengthen the current recovery trend.
