Key Takeaways
Worldcoin started 2024 with a bang, increasing over 400% and reaching a new all-time high price of $11.96 in March.
However, the rest of the year was unkind to the altcoin, which fell over 80%, closing 2024 down 20% overall.
While 2025 started on a bearish note, the price has regained its footing, reclaiming a critical support level and creating a bullish pattern.
With momentum seemingly shifting, the key question remains: Is this finally the beginning of a bullish trend reversal for WLD, or will the price fail to sustain its momentum once more?
The WLD price has increased alongside an ascending support trend line since September 2024. A bounce at the trend line triggered a rally in November that led to a high of $4.20 next month. The upward movement also caused a breakout above the $2.60 horizontal area, which was expected to provide support.
However, WLD fell below shortly after the high and validated it as resistance on Jan. 6, 2025 (black icon). On Jan. 13, WLD fell below the trend line, threatening a breakdown. However, WLD bounced back (black circle), reclaiming the trend line and confirming that the breakdown was invalid.
Such deviations often lead to significant movements in the other direction. If that happens, WLD can reach the closest resistance at $2.65.
Worldcoin also created a bullish double-bottom pattern relative to the Dec. 16, 2024 price.
Technical indicators support this positive WLD prediction. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) both generated bullish divergences (green).
These legitimize the double bottom pattern and make it likely that the price will increase to $2.45.
Worldcoin news is also positive. On Jan. 15, Worldcoin announced novel features for their Mini Apps, which now have over 1 million users.
The features include a contacts tab, push notifications, and an improved user interface. Also, the World Build Incubator will continue helping Mini Apps innovation through several events running from February to May 2025.
While the price action and indicator readings are positive, the wave count suggests the increase is simply a relief rally.
This is because the price has completed a five-wave downward movement, meaning that the ensuing increase will likely be an A-B-C structure (white), going as high as the 0.618 Fibonacci retracement resistance level at $3.31.
Since the underlying trend is bearish, the WLD price will likely fall again after it reaches the target.
To further reiterate that the long-term trend is bearish, WLD has completed another upward A-B-C structure between September and December 2024.
So, despite the positive price action, the long-term trend of WLD is bearish. While the price could increase to $3.31, another downward movement will likely take Worldcoin back to new lows.
Worldcoin showed its grit by preventing a breakdown from a long-term diagonal support level and creating a bullish pattern afterward.
However, the wave count suggests that any increases are corrective, and the price will eventually decline to new lows.