Worldcoin recently faced rejection at the $2.15 resistance level, raising concerns about a prolonged bearish trend. Sellers have consistently pushed prices lower, failing buyers' attempts at a breakout, prompting worries of potential continued declines.
The technical indicators reveal potential for an extended downtrend, with negative momentum evident on the 4-hour and daily charts. WLD is trading below the 100-day SMA, moving toward the $1.27 support level, reflecting heightened selling pressure and bearish sentiment.
A breakdown below the $1.27 support could deepen the downtrend, while holding steady might offer a chance for price recovery. Worldcoin’s price is marked by bearish candlestick patterns, showing challenges in overcoming selling pressure and establishing upward momentum.
If the downward trend continues and key support levels fail, Worldcoin could experience extended losses, complicating recovery efforts and further impacting market sentiment. Monitoring these levels is crucial for understanding potential future movements and opportunities in Worldcoin's market.
