#Worldcoin plans to sell up to $195 million in WLD tokens, expanding the token supply by 18.6%.
Following a new all-time high of $11.970 on March 10th, WLD has faced bearish pressure.
On the daily chart, $WLD has been rejected from the upper boundary of the Descending channel pattern.
Despite a recent rise, $WLD encountered resistance in breaching the channel pattern yesterday.
Bulls failed to sustain momentum, resulting in a 3.50% decline in price.
WLD has completed a five-wave uptrend, indicating the subsequent downturn was a correction.
A breakout above the channel pattern may signal a significant recovery, potentially surpassing its previous all-time high.
According to Coin Gabbar analysis, Conversely, rejection could lead to another downturn, potentially driving the price below $4.
KEY LEVELS :
RESISTANCE LEVEL : $6.50-$8.00
SUPPORT LEVEL : $4.40-$3.00
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Also read: Pi Coin Price Prediction: Can PI Reclaim Its Former Glory?Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.