Worldcoin price is trading around $1.2, which is a major drop from its previous highs. crypto analyst from the YouTube channel Shah Faisal Shah revisited his earlier predictions and provided insights into what might be next for this cryptocurrency.
In a video analysis, Shah discussed the future price movement of Worldcoin with a keen focus on its current market position.
WLD Price Analysis
Worldcoin previously experienced a notable decline, breaking through a crucial support level at $1.60, which Shah had noted in earlier discussions. This support level was pivotal, forming the base of what Shah described as a “big-ass double top” structure, a bearish signal in technical analysis.
The failure to maintain this level led to a substantial price drop, but Shah points out that the situation could have been worse, considering the potential for a much deeper fall.
Currently, Worldcoin is testing a critical support level at $1.30. Shah emphasized the importance of this level, stating that if the WLD price can hold above $1.30 for more than two days, it could signal the beginning of an upward trend. This recovery would first aim to reclaim the $1.60 mark, which Shah views as foundational for Worldcoin’s price stability and potential growth.
WLD Price Recovery Path
“If it holds at $1.30, our target is $1.60,” Shah stated, outlining a clear path for potential investors. He further added that surpassing $1.60 would open discussions about reaching $2.00, marking a significant recovery for Worldcoin from its current position.
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Shah also drew parallels with other cryptocurrency projects that have seen dramatic declines, such as ICP, which dropped from $460 to $2. He used this comparison to illustrate the volatile nature of the crypto market. He remarked on Worldcoin’s fall from a peak of $12 to its current low, suggesting that while painful, such drops are not uncommon in the crypto space, especially for projects with questionable fundamentals.
In conclusion, Shah Faisal Shah’s analysis suggests that while Worldcoin faces challenges, there is a pathway to recovery if it can maintain its current support level. Investors and enthusiasts are advised to watch the $1.30 mark closely, as its stability could be key to unlocking further price gains towards $1.60 and beyond.
