Worldcoin Bulls Eye Rebound as Technical Signals Flash Bullish Reversal

Worldcoin (WLD) has shown signs of a potential rebound, with its charts flashing multiple technical signals that hint at a bullish reversal. The altcoin recently formed a rounded bottom pattern, often seen as a bullish signal in technical analysis, indicating that selling pressure has diminished and buyers are gaining control, setting the stage for a potential upside.

The Fear and Greed Index had a reading of 50 at press time, suggesting that the market is neither too fearful nor greedy, offering a stable base for potential bullishness. As the market digests the altcoin's previous movements, the rounded bottom pattern could be the precursor to a price hike.

The TD Sequential indicator on the weekly chart for WLD highlighted multiple buy signals, including A13, C13, and S13. This well-known indicator is used to predict trend reversals by identifying exhaustion points in price action. The appearance of these buy signals hinted that WLD's downward trend may be nearing its end and that a bullish reversal may be imminent.

An alignment of these TD Sequential signals with the rounded bottom pattern supported the idea of a price surge. If market conditions continue to align, these buy signals could lead to a notable upswing in WLD's price.

WLD's recent volatility flashed a reading of 121.90% at press time. Such high volatility is characteristic of the crypto market, often accompanying significant price swings. The prevailing volatility could indicate that market participants are actively preparing for a price change. Historically, periods of high volatility have preceded trend shifts, and this pattern means that WLD may be on the verge of a rebound.

An analysis into the Open interest of WLD Futures on Binance revealed a hike over recent weeks. Here, Open Interest represents the total number of outstanding futures contracts and can serve as an indicator of growing market interest. The hike in Futures Open Interest supported the possibility of a bullish move, as it hinted that investors are reacting to the potential for an upside in price.