To strengthen the bullish argument, a breakout of the weekly resistance zone of $0.56 to $0.75 is needed.
The current trading price of this token is above the 200-day EMA moving average on the daily chart, and a "golden cross" has formed between the 50-day and 200-day EMA moving averages.
The strengthening of Bitcoin and Ethereum, coupled with future announcements regarding WLD, may help to bring in the liquidity needed for a breakthrough.
WLD The price is approaching a critical area that determines success or failure. The weekly chart shows that there is resistance between $0.56 and $0.75. If it can break through this range, it may indicate that the market structure change required by the bulls has already occurred. Before that, it would still be too early to claim that a complete trend reversal has been completed.
WLD has a strong rebound momentum, but resistance still exists.
Since the decline in July, WLD has shown a clear rebound during October. Looking at the daily chart, the token is currently operating above the 200-day EMA moving average, and a golden cross has formed between the 50-day and 200-day EMA moving averages.
This pattern indicates that bullish demand is strengthening. However, technical signals cannot guarantee the next move, especially since there is still a large resistance area above.
For WLD to continue rising, stronger liquidity is needed.
On the daily chart, the range of $0.56 to $0.75 appears quite wide, but it makes more sense when viewed on a weekly time frame. WLD The price needs sufficient buying pressure to break through this entire range, rather than just briefly crossing above its lower edge.
If the bulls can achieve this, $1.0 will become the initial target; if the momentum continues, there is a possibility for further price increases. However, until the entire resistance zone is broken through, these targets are only conditional and not guaranteed.
BTC and ETH may determine the pace.
In addition, since October 8th, WLD has shown a bullish reaction for two consecutive trading days, which coincides with the timing of price improvements in BTC and ETH. This temporal synchronization indicates that the broader market trend is currently affecting the movement of WLD.
If these two major assets continue to rise, it may help to improve market conditions. However, a mere strengthening of the overall market may not be sufficient to bring in the liquidity required to break through such a large resistance range.
Future announcements may become a catalyst.
Currently, traders can pay attention to two potential factors: the continued strength of BTC and ETH, as well as important announcements regarding WLD in the coming weeks or months. Either of these factors could help attract attention and liquidity, but neither can guarantee a breakthrough.
The price outlook for WLD depends on whether it can break through the range of $0.56 to $0.75. Before that, although the rebound trend and the golden cross are encouraging, the bullish trend still needs further confirmation.
