WLD price stalls at $1.32 – breakout to $1.84 or drop to $0.90 next?

• WLD consolidated near $1.32, with traders eyeing a breakout toward $1.84 or a drop to $0.90.
• Technical indicators show indecision as bulls and bears battle, keeping WLD’s next move uncertain.

Worldcoin [WLD] was in a tight consolidation phase, with its next move likely to dictate short-term market sentiment.

The price was testing the $1.32 resistance level, and a breakout could push it toward $1.84, while failure to hold support might send it down to $0.90. 

Over the past 24 hours, WLD gained 3.90%, and its weekly performance increased by 4.78%, at press time. The price has fluctuated between $1.20 and $1.32, forming a consolidation range based on Coingecko.

A pattern of higher lows suggests accumulation and growing bullish momentum. A breakout attempt near $1.33 indicates increased interest from buyers.

Support and resistance levels of WLD

WLD’s immediate resistance level is $1.33, marking the upper boundary of its current consolidation.

If the price moves above this level, it may test $1.84, which serves as the next resistance zone.

Source: TradingView

On the downside, the $1.20 level acts as support, and a break below it could lead to a decline toward $0.90. Traders are monitoring these key levels to determine the asset’s next direction.

Technical indicators and market sentiment

The 20-period Simple Moving Average (SMA) at $1.2576 acts as a dynamic support. The upper Bollinger Band was at $1.3195, and the lower band stood at $1.1956, indicating low volatility. A breakout beyond these bands could signal a shift in market momentum.

The Directional Movement Index (DMI) showed the +DI at 22.4575 and -DI at 26.6357, suggesting that sellers maintain slight control. 

Source: TradingView

However, the ADX at 14.3741 indicates a lack of strong trend momentum, reinforcing the sideways movement. If the +DI crosses above the -DI with a rising ADX, buying pressure could strengthen.

The Relative Strength Index (RSI) stood at 56.54, reflecting neutral to mild bullish momentum. If the RSI surpasses 60, buyers may push the price higher. Conversely, a drop below 50 could signal renewed selling pressure.

On-chain data and market participation

On-chain data from IntoTheBlock indicated that at the current price of $1.32, only 0.63% (239 addresses) are in profit, while 96.77% (36.64k addresses) are out of the money.

A further 2.60% (986 addresses) hold at break-even levels.

Source: IntoTheBlock

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The Bulls and Bears chart shows a balanced sentiment, with 137 bulls and 140 bears over the past seven days. This indicates a close battle between buyers and sellers, with no clear dominance. 

The outcome depends on whether WLD can break above $1.34 or face further downside pressure.

Traders are watching closely for confirmation of the next move.