Worldcoin Price Forecast: WLD contemplates 15% move, rally or crash?
|- Worldcoin price has breached the lower limit of the $3.62 to $4.61 range.
- If WLD recovers above this level with a market structure shift, it could result in a 15% recovery rally.
- On the other hand, rejection at $3.62 could trigger a 15% correction towards $3.00.
Worldcoin (WLD) price has shed 26% in just two days, sending WLD down from an all-time high of $4.79 to $3.51, where it currently trades. Going forward, one of two things are likely to happen – a recovery bounce or a continuation of the downtrend. Both scenarios are contingent on one key level.
Also read: Worldcoin price nears all-time highs, what WLD holders should anticipate
Worldcoin price needs to make a decision
Worldcoin price created a range, extending from $3.62 to $4.61 on December 16 and 17. After sweeping the range high, WLD set an all-time high of $4.79. But the bullish momentum failed to sustain and was followed by profit-taking, which triggered a 26% correction that has effectively swept the range low at $3.62.
Now, Worldcoin price has two options – recover above the range low and produce a higher high above $3.81. This move would create a bullish market structure shift (MSS) and give sidelined buyers a signal to step in. Trades can enter long positions on the pullback that follows the MSS. The subsequent rally is likely going to retest the midpoint of the aforementioned range at $4.11, constituting a 15% move from the current level.
If WLD is truly done with its uptrend, then the recovery bounce should start showing signs of slowing down at $4.11. If not, the Worldcoin price could likely sweep the range high at $4.61 and also target to set a new all-time high, potentially at the $5 psychological level.
Read more: Worldcoin price bullish outlook abounds as WLD commits to robustness, expansion and neutrality
WLD/USDT 1-hour chart
On the other hand, if Worldcoin price fails to recover above $3.62, it would indicate that the buyers are done and capital has rotated to a different altcoin. In such a case, traders can enter a short position around $3.62 and expect WLD to slide down by 15% to retest the $3 psychological level.
In some cases, Worldcoin price could crash lower and tag the $2.73 support level, which was a key resistance barrier for nearly three weeks between November 25 and December 16.
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