The Worldcoin price printed two massive daily bullish candles in mid-July, which halted the descending trend and triggered a strong rebound. Sadly, the gains squeezed completely as the token dropped below the previous lows. The token did attempt a similar rise as before, a couple of times, but it resulted in a 25% to 30% pullback. However, a similar volume pattern appears to have kicked in and hence the possibility of a similar rise also emerges in the next few hours.
After a brief consolidation, the WLD price experienced a steep upswing and reclaimed the crucial resistance at $2. The bulls are trying very hard to hold the token above the gains, while the bears seem to hold back until the price achieves the next higher target. Does this suggest that the ongoing WLD price rally may trap the bulls at the highs? Are bears silent on purpose?
The Worldcoin price chart has reached a fascinating point where it resembles a previous pattern but the technicals suggest a huge bull run is on the horizon. Previously in mid-July, the upswing failed to rise above the lower bands of the Gaussian channel, but currently, the price has surpassed the upper resistance. This indicates a potential shift from a bearish to a bullish trend, which may push the prices higher.
Secondly, the RSI has reached the upper threshold for the first time since March 2024. Back in February, when the levels broke above the range, the prices surged by more than 400%. The RSI traded around the upper resistance and soon after forming new highs, it dropped to its bottom. Therefore, if the RSI rises and enters the overbought range, the levels are expected to sustain within the range for a while, paving the way for the WLD price to trigger another 200% rise to reach $6, one of the pivotal resistances.
The market dynamics are flipping as the trade is heading towards the end of the quarter and with the start of last quarter, the Worldcoin (WLD) price is expected to trigger a fine bull run.
