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Worldcoin hits $4.7: Is a May bull run still on the cards?

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Worldcoin has a bearish market structure but there was evidence of accumulation in April- is this a buy signal for investors?

bulls were unable to push past the high at $6.188. Worldcoin formed a lower high at $6.188 on the 23rd of April.

Moreover, WLD faced rejection from this level and was trading at $4.7 at press time. This was close to the demand zone on the daily timeframe that had been a resistance zone in December 2023.the $6.188 level as resistance. The 1-day and higher timeframe structure remained bearish, and the recent 21% drop meant the lower timeframes remained firmly bearish as well.The social volume saw consistent surges in the past two months but was relatively low compared to mid-February.

Source: News Formal (newsformal.com)

 

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