• Worldcoin is trading at $1.20 with mild daily gains but a weekly decline.
• The Price remains above the crucial $1.19 support level, signaling stability.
• The RSI shows neutral momentum, indicating potential for either direction.
• Community sentiment remains largely bullish despite minor corrections.

Worldcoin (WLD) continues to show resilience, sustaining its value near key technical support levels even after a modest weekly decline. Over the past 24 hours, WLD climbed nearly 1.51%, though it remains 10.24% down on the weekly performance. The token is trading at $1.20, backed by a $2.62 billion market capitalization and a 24-hour trading volume of $267.45 million, down 5.32%.

The weekly chart shows that the price still hovers above the 9-week simple moving average (SMA) at $1.19 and the 20-week Bollinger midline near $1.11. This positioning indicates that the broader trend retains a cautiously bullish outlook. Since mid-year, Worldcoin has recovered significantly from lows around $0.73, though resistance remains firm near $1.60.

Worldcoin Technical Outlook Points to Controlled Volatility

Bollinger Bands for Worldcoin are moderately wide, reflecting consistent but contained volatility. The current price sits between the upper band at $1.49 and the lower band at $0.73, keeping the asset within a consolidation zone. Remaining above the 20-SMA suggests that bulls still hold structural control, even as sellers test higher resistance zones.

Momentum indicators also reflect such a balance. The Relative Strength Index (RSI) is at 49.53, slightly higher than its signal line of 48.64. It suggests that such placement is neutral, not oversold or overbought. If RSI moves up further from 50, it could validate a bullish breakout with rising volume.

Key technical levels now sit at $1.19 for support and $1.49 as a resistance region. Breakdown through support may bring a return visit to $1.10 or as low as $0.73. On the upside, a bounce with new purchasing pressure could ignite a retest of $1.49 and the important $1.60 region.

Market Sentiment Leans Strongly Bullish

Market data cements a prevailing bullish sentiment among traders. Approximately 80% of more than 95,000 traders indicated bullishness for continued gains, signifying faith in Worldcoin’s market prognosis. The majority sentiment is consistent with the ability of the asset to reflect above key supports despite near-term frailty.

Still, around 20% remain bearish, acknowledging likely corrections in case the resistance areas continue to cap gains. It is the vigilant minority that highlights the possibility of vigilance, for such bullish sentiment often comes before consolidation corrections.

Also Read: Worldcoin Struggles at Critical Support: Can It Surge Back to $1.50?