The cryptocurrency market has experienced a significant bullish surge in the past 24 hours. Both Bitcoin (BTC) and Ethereum (ETH) have seen price increases of 3% and 6% respectively, enabling major altcoins, including Worldcoin (WLD), to regain ground.
Worldcoin (WLD) has surged by more than 5%. Beyond its price strength, WLD's chart is indicating the development of a bullish structure that could soon facilitate a trend reversal.
Descending Channel in Play
On the daily timeframe, WLD continues to trade within a well-defined descending channel, confined between two parallel falling trendlines. While this structure has contained the price for weeks, it has also served as a controlled corrective environment rather than a breakdown phase.
The token recently retested the lower boundary of the channel, near $0.5619. At this level, buyers demonstrated absorption, pushing the price back towards the channel's upper resistance. This rebound has brought WLD to trade around $0.6330, positioning it directly below the breakout confluence zone. This zone is formed by the channel's top trendline and the 50-day moving average, which is currently situated at $0.7202.
This cluster of resistance now represents the immediate technical hurdle that buyers must overcome to shift momentum in their favor.
What’s Next for WLD?
Should buyers successfully push WLD above the descending channel's ceiling, which is near $0.66, and sustain the momentum beyond the 50-day moving average at $0.7202, the corrective phase would likely be considered complete. In such a breakout scenario, the chart indicates potential upside movement towards the $0.9303 zone. This level represents a previous structural target that aligns with the channel's measured expansion.
However, until this breakout occurs, the descending channel remains active. A rejection from current price levels could lead WLD back within the formation. The next zone of downside defense would then be $0.5514. As long as this support level holds, the bullish structure remains intact, preventing further capitulation.
Currently, WLD's positioning appears constructive. Downside momentum has eased, support reactions continue to show strength, and the channel boundaries are tightening, indicating an impending resolution. A confirmed breakout, particularly a reclaim of the 50-day moving average, would signify the clearest shift in trend and suggest that WLD is preparing for its next expansion phase.