WorldCoin (WLD) Breaks Resistance Trendline Eyes $2.18 with Long-Term $8.00 Potential

• WLD has broken its long-standing downtrend, with the next resistance at $2.18 and targets at $3.40 and $5.20.
• Fibonacci retracement levels suggest WLD could hit $8.00, but immediate resistance is at $2.18 with potential correction.
• The 50-period EMA at $1.85 offers key support, while the RSI at 56.83 signals room for continued bullish momentum.

WorldCoin (WLD) has broken a resistance trendline on the daily timeframe, positioning it for a potential upward movement. The key resistance level of $2.18 is the next target, with room for a possible correction upon reaching this point. The analysis also identifies a long-term profit potential if the asset holds its breakout and continues its bullish surge.

Breakout Signals Potential Reversal

WLD had been in a downtrend since early 2024, consistently failing to break through a descending trendline that began in February. However, a breakout in October 2024 marked a shift in market dynamics, suggesting reduced selling pressure. 

Notably, the breakout occurred near the $2.18 mark, where resistance is expected. Failure to hold above this resistance may see WLD retrace toward the $1.55-$1.20 support zone.

Resistance and Fibonacci Retracement Levels

Fibonacci retracement levels are incorporated to identify critical areas of resistance. The 38.2% retracement level around $8.00 is a key intermediate target. Further resistance is noted at the 50% retracement level near $7.00, followed by the “golden ratio” at 61.8% around $5.20. These levels provide insight into potential price action should WLD sustain its current bullish momentum. However, immediate resistance remains at $2.18, with the next target at $3.40.

Short-Term Support and Indicators

In the short term the 50-period Exponential Moving Average (EMA) at $1.85 is acting as immediate support. The 200-period EMA at $1.74 provides a longer-term support level. 

Notably, the Relative Strength Index (RSI) is at 56.83, suggesting moderate bullish momentum without reaching overbought levels. Monitoring these indicators are crucial in determining if the current trend holds or reverses. The RSI, in particular, shows room for further price increases without indicating immediate downside risk.