Worldcoin (WLD) has experienced a rapid decline of 8.89% over the past 24 hours, marking a significant shift from its all-time high of $4.79 to its current trading position at $3.58. The crucial juncture for WLD’s future trajectory revolves around a key level determining whether the digital asset undergoes a recovery bounce or continues its downtrend.
Following a surge that propelled WLD to an all-time high of $4.79, the bullish momentum faltered, triggering a substantial 26% correction that effectively breached the range low at $3.62. The current scenario presents two possible outcomes, hinging on the ability of WLD to either recover above the low range or succumb to further downward pressure.
For a bullish market structure shift (MSS) to materialize, Worldcoin’s price must reclaim the range low and establish a higher high above $3.81. Such a move would signal sidelined buyers to enter the market, with potential long positions being considered during the ensuing pullback. The subsequent rally could target a retest of the midpoint of the earlier range at $4.11, implying a 15% upward move from the current level.
However, if the recovery bounce encounters resistance at $4.11, it may signal a potential conclusion to the uptrend. On the contrary, a sustained upward momentum could see Worldcoin’s price surpassing the range high at $4.61, potentially setting a new all-time high, with the psychological level of $5 looming as a target.
Conversely, failure to recover above $3.62 could indicate waning buyer interest, prompting a capital shift to alternative altcoins. In such a scenario, traders might consider entering short positions around $3.62, anticipating a 15% decline to retest the $3 psychological level.
In more dire circumstances, the Worldcoin price may experience a further crash, potentially reaching the $2.73 support level. This level was a significant resistance barrier for almost three weeks, making it a critical point to watch in assessing the digital asset’s overall stability.
The next moves for Worldcoin price will determine the cryptocurrency’s near-term trajectory. Traders closely monitor key levels and market signals to navigate the dynamic landscape of digital asset trading.
