- Worldcoin (WLD) is facing key resistance at $0.85 after a 31% rally, with traders watching for confirmation of a bullish breakout.
- A move above this level could trigger a push toward $1.07, while failure may lead to a deeper pullback.
After an explosive 31% rally, Worldcoin (WLD) is facing a critical juncture as traders eye the pivotal $0.85 resistance zone. While bullish technical signals remain intact, momentum appears to be stalling — leaving investors to wonder whether the breakout has staying power or if a deeper pullback is imminent.
The recent upswing came on the heels of a breakout from a long-term descending channel that had capped WLD’s price since its December 2023 peak at $4.19. That breakout, which occurred near $0.60 support, marked a significant shift in market sentiment, with the daily RSI breaking out of oversold territory to hint at a reversal in trend.
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Adding to the bullish case, the hourly chart reveals a potential five-wave impulse structure unfolding from the April low. Wave (iii) appears to have peaked at $0.89, with wave (iv) now seeking support between $0.814 and $0.851. Holding this zone is crucial; a decisive drop below $0.789 would undermine the bullish setup and could send WLD back toward the $0.731 support level.
If support holds, the next upward move — wave (v) — could aim for $0.957, with an extension toward $1.03. This would validate the larger impulse wave pattern and potentially confirm a medium-term trend reversal.
But the resistance zone between $0.85 and $0.90 is a formidable one. A daily close above it would clear the final obstacle to higher targets like $1.07, $1.44, and possibly $1.70 — key Fibonacci levels from the previous downtrend.
Still, there’s a counter-narrative in play: if the recent move turns out to be an ABC correction rather than an impulse, WLD could be headed back down. Volume confirmation on the next leg will be essential in distinguishing between breakout and fakeout.
For now, all eyes are on $0.85 — the gatekeeper between a confirmed recovery and another fade into bearish territory.