Worldcoin (WLD) price has recorded a steady series of lower highs on the weekly timeframe, although not enough to negate the predominant trend, which is still bullish.
Worldcoin price correction is likely a blessing in disguise for late bulls as bullish sentiment remains intact. WLD could bounce at $5.30, kickstarting a good reversal after a 43% correction. A break and close below the $4.00 psychological level would invalidate the bullish thesis. Worldcoin price has recorded a steady series of lower highs on the weekly timeframe, although not enough to negate the predominant trend, which is still bullish.
For starters, the weekly Relative Strength Index remains in bullish territory above the ‘50’ mean level, accentuated by the position of both the Awesome Oscillator and the Moving Average Convergence Divergence in positive territory. Moreover, the MACD remains well above its signal line, reinforcing the bullish supposition. The longer-term outlook for the Worldcoin price would be a revisit of the $5.30 support before a possible reversal north.
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