Worldcoin (WLD) has found itself in a tight consolidation phase around the $1.32 mark, leaving traders uncertain about its next move. With key levels being tested and technical indicators showing mixed signals, the question remains: will WLD break through the $1.84 resistance or fall toward the $0.90 support?

In the past 24 hours, Worldcoin has gained 3.90%, and its weekly performance shows a modest 4.78% increase. However, the price has been fluctuating within a narrow range of $1.20 to $1.32, signaling indecision as traders await a clearer direction.

Key Levels to Watch

Currently, WLD is facing resistance at the $1.33 level, which has capped its upward movement. If the price can push above this level, the next target for buyers will likely be $1.84, a key resistance zone. On the flip side, support is found at $1.20. A break below this level could lead to a sharp decline toward $0.90.

These critical levels are currently guiding market sentiment. Traders are watching for either a breakout above resistance or a dip below support to gauge WLD’s next move.

Technical Indicators and Market Sentiment

Looking at the technical indicators, the 20-period Simple Moving Average (SMA) at $1.2576 is acting as dynamic support, while the Bollinger Bands show relatively low volatility, with the upper band at $1.3195 and the lower band at $1.1956. A breakout above or below these bands could signal a shift in market momentum.

The Directional Movement Index (DMI) shows the +DI at 22.46 and -DI at 26.64, suggesting that sellers currently hold a slight edge. However, the Average Directional Index (ADX) is at 14.37, indicating weak trend momentum. This reinforces the current sideways movement. If the +DI crosses above the -DI, it could suggest that buying pressure is building, while a drop in ADX could signal further consolidation.

The Relative Strength Index (RSI) is at 56.54, reflecting neutral to mild bullish momentum. A rise above 60 could encourage more buying, pushing the price higher. Conversely, a dip below 50 may trigger additional selling.

On-Chain Data and Market Participation

On-chain data from IntoTheBlock reveals that only 0.63% of WLD addresses are currently in profit, while 96.77% of addresses are at a loss. Additionally, a small portion of holders (2.60%) is at break-even levels. This indicates that most traders are underwater, which could affect market sentiment if a breakout or breakdown occurs.

In terms of market sentiment, there is a near balance between bulls and bears, with 137 bullish addresses and 140 bearish addresses over the past week. This shows that neither side has full control, and the outcome will depend on whether WLD can break above key resistance or fall below support.

What’s Next for WLD?

The consolidation around $1.32 makes it clear that traders are waiting for a decisive move. If Worldcoin can break through the $1.33 resistance, the $1.84 mark could be within reach. However, failure to hold support at $1.20 might see the price fall to $0.90.

As market conditions remain uncertain, traders are closely watching these critical levels for signs of the next big move. The outcome of this consolidation phase could set the tone for WLD’s price action in the short term.