Worldcoin Breaks Key Resistance as WLD Surges Towards $3 Amid Growing Bullish Momentum

• WLD breaks out of its downtrend, signaling a bullish reversal and possible continuation towards the $3.00 resistance level.
• Worldcoin’s price surged past $2.00, with support at $1.20 and resistance between $2.80 to $3.00 being the next key level to watch.
• Bullish momentum is confirmed by a golden cross on the 4-hour chart, with 50 EMA above 200 EMA, suggesting further upward movement.

According to CryptoJack, a crypto analyst on X, Worldcoin (WLD) has bounced from its support zone, with its next price target aiming for $3. This observation follows a breakout from a prolonged downtrend, signaling a shift in market sentiment.

Currently trading at the $2.00 mark, the price surge highlights growing bullish momentum in the WLD/USDT pair, with the market anticipating a further upward movement.

Downtrend Breakout Signals Shift in Momentum

Worldcoin’s price was stuck in a downtrend that began in mid-June, marked by a diagonal line connecting lower highs. This trend persisted until early September, when WLD found strong support between $1.20 and $1.40. 

The downtrend was broken around this time, signaling a potential market reversal. Notably, after the breakout, the price surged rapidly to $1.997, clearing smaller resistance zones and establishing a new bullish trajectory.

This shift is crucial as it indicates a growing interest among buyers, reflected in the consecutive green candles on the 1-day chart. If the current upward momentum holds, the market could be setting up for further gains, especially with an important resistance zone looming around $2.80 to $3.00.

Key Support and Resistance Levels

The chart highlights two significant zones: the support level between $1.20 and $1.40, and the resistance zone near $2.80 to $3.00. The price has already bounced from the support area several times, showing its strength. 

Now, with the market above $2.00, the next key challenge is breaking the $3.00 resistance. However, if WLD fails to push through this zone, a pullback to the $1.80 level or even retesting the support area could occur.

These levels play a critical role in determining whether the current bullish momentum can be sustained or if the price will retrace back to lower levels.

Moving Averages and Future Projections

On a shorter 4-hour chart, technical indicators show bullish signals as well. The 50 EMA has crossed above the 200 EMA, forming a golden cross. This pattern, often considered a sign of upward momentum, further strengthens the bullish case for WLD. Currently, the 50 EMA is at $1.72, while the 200 EMA is positioned at $1.607, acting as strong support levels.

With increased trading volume and no significant resistance beyond the $2.08 mark, the price could target $2.20 or higher if bullish momentum continues. Analysts are likely to monitor the $2.10 level, as a breakout could indicate further upward movement.