Worldcoin (WLD) is seeking to break its long-term descending trend, which could signal a potential bullish breakout. Recent data indicates increasing trading volumes and open interest.
Key Technical Setup
Worldcoin (WLD) is currently trading at $1.02, gaining 12% over the last 24 hours, as it tests a major descending trendline resistance once again.
Clifton Fx noted that WLD is trying to break the daily trendline that has capped its upside for months. The chart shows repeated failures at this resistance, but sellers appear weaker with each retest, indicating ongoing accumulation.
Price Levels and Market Structure
The WLD chart reflects strengthening momentum, with higher lows indicating buyers stepping in earlier than before. Upside targets are identified at $1.80, $2.20, and $2.50, which traders may consider if the breakout holds. However, a failed breakout could pressure late buyers and revert the token back toward the $0.90 support area. This dual outlook makes the current trendline resistance attempt a pivotal moment for short-term market direction.
Derivatives Data Confirms Bullish Positioning
Derivatives market activity has reinforced the bullish case. Trading volume surged 119% to $942 million, signaling increased liquidity inflow. Open interest also climbed 20% to $448 million, suggesting heightened positioning from market participants. Long/short ratios lean strongly in favor of buyers across major exchanges.
The current attempt by Worldcoin to break the descending trendline creates conditions for an extended move if the breakout holds true. Key levels and derivatives data suggest growing confidence in WLD's future prospects.
