Up 11.3% today and still down 9% on the week. That is where $WLD stands at 0.5544, and both numbers matter.
The day looks good on its own. BTC is down 0.65% over the same 24 hours, so WLD moved against the market, not with it. Hourly RSI is 69.7, right at the edge of overbought.
What holds me back is volume. About 41.3 million dollars traded, only 1.07 times the weekly average. A double-digit day on normal volume is a weaker signal than it looks, because it does not show many new buyers coming in. Compare that with the coins this week that moved on 20 or 40 times their usual volume.
Price is also 10.5% under the weekly high of 0.6192. To me this is a recovery inside a down week, not a new trend yet. I would change that view if WLD gets back above 0.6192 with volume clearly above average. If it falls back under 0.50, today's gain is mostly gone and the weekly downtrend is still in charge. Until one of those happens, I am watching whether volume picks up or the RSI cools first.
#Worldcoin #WLD
The day looks good on its own. BTC is down 0.65% over the same 24 hours, so WLD moved against the market, not with it. Hourly RSI is 69.7, right at the edge of overbought.
What holds me back is volume. About 41.3 million dollars traded, only 1.07 times the weekly average. A double-digit day on normal volume is a weaker signal than it looks, because it does not show many new buyers coming in. Compare that with the coins this week that moved on 20 or 40 times their usual volume.
Price is also 10.5% under the weekly high of 0.6192. To me this is a recovery inside a down week, not a new trend yet. I would change that view if WLD gets back above 0.6192 with volume clearly above average. If it falls back under 0.50, today's gain is mostly gone and the weekly downtrend is still in charge. Until one of those happens, I am watching whether volume picks up or the RSI cools first.
#Worldcoin #WLD