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WLD The journey of the world currency: Changing market sentiment brings challenges
In July this year, the world currency (WLD) experienced a slight recovery after a long sell-off (its market value evaporated by more than 96%, and its price plummeted from its peak of US$11.97 in 2024). This increase pushed its price up by 3% to 7%, reflecting the overall positive trend in the cryptocurrency market. However, experts remain cautious and uncertain whether this signals a reversal of long-term trends.
Is the key technology reversal signal coming?
Market experts have different views on the recent price trend of the world currency. Some believe it is showing signs of stabilization, while others warn against jumping to hasty conclusions, fearing that this may be just a temporary respite on the way down. Technical analyst@that1618guy pointed out that the WLD's weekly relative strength index (RSI) showed a clear bearish divergence, indicating that the strength of this round of rally is in doubt.
"WLD shows a strong bearish RSI divergence on the weekly chart, which further warns us to view the strength of the current rally with caution." At the same time, weekly volatility slowed down during the WLD backtest of the short-term index moving average, indicating that momentum was weakening. The lack of a clear narrative direction in the market also means that there may be more consolidation before prices rise substantially.
Can the world currency overcome resistance?
However, some experts are optimistic. Analyst@0xLogicalx emphasized that the world currency may be in the early stages of building a long-term rebound cycle. Judging from the historical trend of cryptocurrency prices, the rising market often unfolds in stages, and assets will gradually break through key resistance levels.
Currently, weekly charts show key resistance levels for WLD at around $2.20,$4.15 and $12. These targets are much higher than the current range of US$0.40 to US$0.42, meaning that multiple effective breakthroughs will be needed before these levels are likely to become a reality in the coming months.
US$0.23 is the previous low.
The current trading range is between $0.40 and $0.42.
The first resistance level is at $2.20.
The second resistance level is at $4.15.
The main resistance level is its previous high of US$12.
From the perspective of derivatives trading, on platforms such as Bybit, a large number of leveraged transactions are gathered in the range of US$0.48 to US$0.52, forming a potential resistance band. If these areas are not broken through, selling pressure may rise again. The overall signal remains unclear: technical indicators are neutral across all time frames, but the long-term chart remains slightly biased towards sell.
The key to the future trend of the world currency may lie in whether it can stick to the US$0.40 mark and break through the resistance zone of US$0.42 to US$0.45 at the same time. Achieving this goal would mark a new phase of recovery-although current trends are still seen mainly as tentative steps rather than clear bullish reversals.
