Worldcoin (WLD) Bulls Eye $5.10 as Key Resistance Levels Near a Breakout Moment

• Worldcoin trades at $3.59, up 22.05%, challenging the $3.92 resistance with strong bullish momentum above key Fibonacci levels.
• The price is supported by the 50 EMA at $2.74 and 200 EMA at $2.35, confirming an ongoing bullish trend with upward potential.
• RSI at 66.19 hints at overbought conditions; a breakout above $3.50 may lead to further gains toward $4.00 and higher targets.

According to analyst Ali, Worldcoin ($WLD) is showing a promising recovery after a steep decline from its all-time highs. Ali noted that the asset has achieved the target of a previously identified head-and-shoulders pattern, cautioning traders to book profits as the price consolidates near resistance zones. The recent rally follows a pronounced downtrend from $13.99 to a local bottom near $1.28, representing a significant 60.60% drop, before rebounding strongly.

Fibonacci Levels 

At press time Worldcoin was trading at  $3.59, up by 15.91% in the past 24 hours, and consolidating just below the $3.92 resistance. Fibonacci retracement levels reveal crucial zones influencing the price action. The breakout above the 0.382 Fibonacci level at $3.01 signaled strong bullish momentum, propelling the asset toward the 0.5 level at $3.92.

Notably, the 0.618 retracement at $5.10 and 0.786 at $7.43 serve as key targets if the bullish trend continues. Conversely, $3.01 now acts as a support zone. A pullback below this level could expose the price to the 0.236 level at $2.17, indicating potential bearish risks.

Exponential Moving Averages Confirm Uptrend

The second chart showcases Worldcoin’s uptrend, with the price trading above the 50 EMA ($2.74) and 200 EMA ($2.35). These levels serve as dynamic supports, reinforcing the asset’s broader bullish sentiment. After consolidating around $2.50–$2.75, the price broke out strongly, reaching highs above $3.50.

The Relative Strength Index (RSI) currently sits at 66.19, suggesting bullish momentum but nearing overbought territory. Monitoring key levels at $3.50 and $3.00 is crucial as it may lead to a breakout confirmation or potential pullbacks.

Resistance and Volume Signals Key Future Moves

The $3.50 resistance is pivotal for Worldcoin’s movement. Breaking above it could push the price toward $4.00 and higher levels aligned with Fibonacci retracements. However, if profit-taking emerges, the price might retrace to $3.00 or the 50 EMA at $2.74. Volume signals accompanying these movements will be critical in confirming the trend’s sustainability.