Worldcoin (WLD) Price Sees Dramatic Recovery After All-Time Low - Will It Reach $2?
BeInCrypto
19 Sep 2023 9:45 AM
The Worldcoin (WLD) price fell to a new all-time low on September 12. It has increased since and just broke out from a corrective pattern....
- The Worldcoin (WLD) price has recently increased after reaching an all-time low on September 12.
- The increase resulted in a breakout from a descending parallel channel, indicating a complete correction.
- The price decline was contained within the channel since July 24, with both upper resistance and lower support lines confirmed repeatedly.
- The rejection by the channel's resistance line on September 7 marked the beginning of the downward trend.
- However, the price has since increased and broke out from the channel on September 15, suggesting a new upward movement.
- The six-hour RSI (Relative Strength Index) supports the continuation of the increase, indicating a bullish prediction.
- If the upward movement continues, the price could increase by another 50% and reach the $2.10 resistance area. A loss of momentum may lead to a 25% drop to the channel's resistance line at $1.08.
The sentiment of the article is positive, focusing on the recent increase in the Worldcoin price and the potential for further growth.
You May Ask
What caused the recent increase in the Worldcoin price?What is a descending parallel channel and how does it relate to price patterns?How does the six-hour RSI indicator support the continuation of the price increase?What are the potential price targets if the upward movement continues or loses momentum?