Worldcoin (WLD) Retesting Its Descending Channel Breakout: Is a Bounceback Ahead?

By: coinsprobe|2025/05/07 20:45:01

Date: Wed, May 07, 2025 | 12:10 PM GMTAfter a shaky start to 2025, the crypto market is finally showing signs of life. Ethereum (ETH) has jumped nearly 31% from its April 9 low, and it’s not the only one making a move. Worldcoin (WLD), one of a top altcoin, has surged nearly 50% over the last 30 days—drawing renewed attention from traders.But after a brief cooldown in weekly gains, WLD is back in the spotlight, posting a 6% bounce today. Source: CoinmarketcapAccording to crypto chart analyst @JohncyCrypto, WLD’s recent price structure may be setting the stage for a stronger bullish reversal.Retesting the Descending Channel BreakoutLooking at the daily chart, WLD had been locked in a persistent descending channel since its December 6 peak of around $4.18, sliding all the way down to a low near $0.57 on April 7. The pattern was marked by consistent lower highs and lower lows—a textbook bearish trend.Worldcoin (WLD) Daily Chart/Source: @JohncyCryptoThat trend, however, broke on April 26, when WLD finally punched through the upper boundary of the channel around $0.95. The breakout led to a swift rally toward $1.25, a local resistance level. Since then, the price has pulled back but is now retesting the descending resistance line, which often acts as support after a breakout.Adding fuel to the bullish case, WLD is also hovering near its 50-day moving average (MA 50)—a key technical level that traders use to gauge medium-term trend direction.If WLD holds above this support area, it may open the door for another leg up. Analysts are eyeing the following upside targets:$1.25 – Near-term resistance$1.75 – Mid-range target$2.50 – Major target zone with lighter volume resistanceA rally to $2.50 would mark a 62% gain from the current price of $0.93.The volume profile also hints at relatively low resistance above $1.20, suggesting that a breakout above this range could trigger a sharp move higher.Is a Bounceback on the Way?Considering the breakout from the long-standing descending channel, current support from the 50-day moving average, and the broader improvement in crypto market sentiment, Worldcoin (WLD) appears poised for a potential bounce.Still, confirmation is key. Holding above the $0.84–$0.87 support zone will be critical in the coming sessions. If bulls can defend this level and reclaim momentum, WLD might be gearing up for a strong recovery rally in the weeks ahead.Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.

A Polymarket user supported nearly half of Trade.xyz's "active addresses" with 34,000 wallets, yet contributed less than 1% of the trading volume. The real support for the market comes from market-making institutions like Jump, Selini, and Wintermute, as well as a group of directional traders crossi...

Binance quietly placed a bet on a leading large model company

In the past year, YZi Labs has significantly accelerated its investments in the AI field, from educational agents to physical robots, and then to large models, with crypto capital and AI technology rapidly integrating.

Best Crypto Discord Server 2026: Why Jacob’s Crypto Clan Is Gaining Massive Attention

Jacob’s Crypto Clan has grown into one of the most active crypto Discord communities, with over 45K members and continuing to expand. This rapid growth reflects strong demand for structured trading insights and real-time collaboration.

Tom Lee Buying ETH: Why Wall Street’s Loudest Ethereum Bull Keeps Doubling Down

Tom Lee keeps buying ETH through every dip, every drawdown, and every moment of market doubt. Inside the strategy that's turning Ethereum into a treasury asset — and what it signals for the rest of the market.

Stripe Sessions 2026: AI Agent, Global Payments, and Invisible Crypto Infrastructure

Stablecoins have finally begun to enter the real business world, but this time, the main character may not be exchanges, wallets, or public chains, but Stripe. It encapsulates KYC, wallets, gas, compliance, and settlement, allowing businesses to access on-chain assets just like using regular payment...

Where will South Korea's cryptocurrency taxation head?

There is little time left before South Korea implements cryptocurrency taxation, but the current tax laws only cover simple spot and currency-to-currency transactions. Driven by the international tax information exchange standard (CARF), South Korea is comprehensively building an intelligence analys...

Legendary investor Naval: Apple is dead, SaaS will follow suit, and entrepreneurs have 18 months to reshape their moats

"You can continue to hold Apple stock. Just don't expect that what you hold is stock in a growth company."

Morning Report | Visa includes Polygon in its global stablecoin settlement program; MoonPay invests $100 million to acquire security company Sodot; Digital wallet platform Belo completes $14 million Series A financing

Overview of Important Market Events on April 29

Full text of the Federal Reserve's decision: Holding steady for the third consecutive time but increasing divisions

The Federal Reserve has kept interest rates unchanged for the third consecutive time, but there were internal voting disagreements, with one official advocating for a rate cut while three others opposed signaling easing. The situation in the Middle East and fluctuations in energy prices further ampl...