WLD breaks above resistance after recent drop | Credit: Hameem Sarwar
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Key Takeaways
WLD has broken above its descending channel and flipped the Supertrend bullish.
The daily active addresses divergence is positive, indicating rising network activity.
This analysis reveals why Worldcoin’s price could edge closer to the $2 mark.
Towards the end of September, the price of Worldcoin (WLD) fell, erasing some of the enormous gains it had that month. But after a few days, WLD seems to be on the path to recovery.
At the time of writing, Worldcoin’s price is $1.32. In this analysis, CCN reveals why the altcoin might not experience a notable correction in the short term.
Worldcoin Market Structure Flips
On the 4-hour chart, Worldcoin’s price remained stuck within a descending channel throughout the last ten days of September, with sellers consistently pushing the price lower.
However, today marks a notable change in momentum.
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WLD has successfully broken above the channel’s resistance line, signaling that bears are losing control. This breakout is an early sign of a potential trend reversal or, at the very least, a short-term relief rally.
Adding to this bullish case, the Supertrend indicator has flipped, with its green line now positioned below the price. This position indicates that the market is issuing a buy signal, reinforcing the strength of the breakout.
If WLD’s price can hold above the resistance-turned-support at $1.24, it may continue its upward push, with the next target around $1.63.
Besides the breakout, Worldcoin’s price is flashing another bullish on-chain signal. The Daily Active Addresses (DAA) divergence is positive at 57.18%.
This metric compares price movement with active wallet activity, helping identify whether demand is keeping pace with valuation.
A positive DAA divergence above 50% indicates that network activity is expanding more rapidly than the price.
If the divergence continues to climb, it could fuel sustainable upside momentum, allowing WLD’s price to retest higher resistance levels.
A fresh evaluation of the technical setup shows that Worldcoin’s price has formed a bullish pennant on the daily chart. This structure typically reflects a brief consolidation phase while buyers gradually build strength for the next leg higher.
In WLD’s case, the price has already risen above the pennant’s upper trendline,
If momentum holds, the pennant breakout could target the $1.42 to $1.69 range. Such a development would reinforce the broader bullish reversal that began with WLD’s breakout from the descending channel.
If bulls prevent the altcoin from dropping below these prices, Worldcoin’s price might climb to $1.96.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
