Worldcoin (WLD) price is showing signs of a potential trend reversal after months of decline, with a technical breakout pattern suggesting significant upside. The daily chart reveals a falling wedge pattern that has broken to the upside, a structure that typically appears when selling pressure weakens. The breakout occurred above the wedge's upper boundary near $0.31, indicating renewed buyer interest.
Technical analyst ATradeSniper (@Asnipercrypto) notes that the completed breakout on the daily timeframe increases the chances of a continuation move. The projection from the pattern's height suggests a technical target near $0.60, representing close to a 100% gain from current levels. This move follows a prolonged period of compression characterized by lower highs and lower lows, which often precedes expansionary price action.
However, the analysis cautions that this type of breakout typically requires confirmation. Price often retests the breakout level near $0.31 before continuing higher, which could shake out early buyers. Current price action faces resistance near $0.35, and a strong push above this level would strengthen the bullish case. Failure to hold above $0.31 could invalidate the setup.
Technical indicators present a mixed and mostly bearish picture despite the bullish chart structure. The RSI (14) at 51.871 is neutral, showing no strong momentum. While the MACD (12,26) shows a buy signal at 0.07, other indicators lean bearish: Stochastic (9,6) at 36.726 signals sell, ADX (14) at 27.438 indicates weak trend strength, the Ultimate Oscillator at 40.497 shows sell, and ROC at -2.358 reflects ongoing downside pressure.
The article notes that Worldcoin's future depends on its ability to become a global standard for AI-human verification while overcoming regulatory challenges. The project faces bans or suspensions in multiple countries including Spain, Portugal, Hong Kong, South Korea, Indonesia, Kenya, and Brazil due to privacy concerns surrounding its iris-scanning "Orbs" technology.
