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

Date: Wed, May 07, 2025 | 12:10 PM GMT

After 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: Coinmarketcap

According to crypto chart analyst @JohncyCrypto , WLD’s recent price structure may be setting the stage for a stronger bullish reversal.

Retesting the Descending Channel Breakout

Looking 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: @JohncyCrypto

That 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 resistance

A 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.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.