Decoding What Happened In WLD Over Its Technical Chart

Aug 6

According to TradingView, from ATL to ATH, the price showed a magnificent surge of more than 6600%, and from the low registered on July 24th, 2023 of $0.1503, Its current price has traded 900% higher than its all-time low price.
Likewise in (WLD/USD-BINANCE), the all-time high (ATH) was registered on March 9th, 2024, when the price peaked at $11.975. Comparatively, from the ATH level, the price as of press time was nearly 85% down.

The uptrend in the first quarter of 2024 from $2 to $11 was short-lived by time, but gains were massive in a short period.

However, the achieved peak in WLD showed instability, where bears took advantage, and the price dropped from mid-march to the foundational support zone at $1.30.
The recently acknowledged bullish spike globally from stock markets to the crypto market signified the change of wind in the bulls' favor.

But, it has been yet to be confirmed, as in WLD, the confirmation of a bullish trend start would be the sustenance above $3.0.

The indicators showed bearish signs, as EMA bands showed the price has traded beneath the bearish cross built in mid-June. The MACD was at -0.2019, whereas the histogram was at -0.0512.

Despite others indicating major details, the RSI showcased minor details that corresponded to the intraday bullish spike, which the RSI presented by a bounce back from oversold territory at 36.79.

Therefore, if the price resurges back, the barriers above could be $3.31 and $4.41, respectively.

However, if the bearishness keeps on, the bears could eye the $1.30 and $1.00 support levels respectively.