- Worldcoin (WLD) has surged nearly 50% over the last 30 days and posted a 6% bounce today, drawing renewed attention from traders.
- WLD broke out of its descending channel on April 26 around $0.95 and is now retesting the breakout level, which often acts as support after a breakout.
- The token is hovering near its 50-day moving average, a key technical support level that could determine the next directional move.
- Analysts are targeting $1.25, $1.75, and $2.50 as upside levels, with the highest target representing a potential 62% gain from current prices around $0.93.
Date: Wed, May 07, 2025 | 12:10 PM GMT
After a shaky start to 2025, the crypto market is finally showing signs of life. Ethereum (ETH) has jumped nearly 31% from its April 9 low, and it’s not the only one making a move. Worldcoin (WLD), one of a top altcoin, has surged nearly 50% over the last 30 days—drawing renewed attention from traders.
But after a brief cooldown in weekly gains, WLD is back in the spotlight, posting a 6% bounce today.
According to crypto chart analyst @JohncyCrypto, WLD’s recent price structure may be setting the stage for a stronger bullish reversal.
Retesting the Descending Channel Breakout
Looking at the daily chart, WLD had been locked in a persistent descending channel since its December 6 peak of around $4.18, sliding all the way down to a low near $0.57 on April 7. The pattern was marked by consistent lower highs and lower lows—a textbook bearish trend.
That trend, however, broke on April 26, when WLD finally punched through the upper boundary of the channel around $0.95. The breakout led to a swift rally toward $1.25, a local resistance level. Since then, the price has pulled back but is now retesting the descending resistance line, which often acts as support after a breakout.
Adding fuel to the bullish case, WLD is also hovering near its 50-day moving average (MA 50)—a key technical level that traders use to gauge medium-term trend direction.
If WLD holds above this support area, it may open the door for another leg up. Analysts are eyeing the following upside targets:
- $1.25 – Near-term resistance
- $1.75 – Mid-range target
- $2.50 – Major target zone with lighter volume resistance
A rally to $2.50 would mark a 62% gain from the current price of $0.93.
The volume profile also hints at relatively low resistance above $1.20, suggesting that a breakout above this range could trigger a sharp move higher.
Is a Bounceback on the Way?
Considering the breakout from the long-standing descending channel, current support from the 50-day moving average, and the broader improvement in crypto market sentiment, Worldcoin (WLD) appears poised for a potential bounce.
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