Market & Ticker: World Coin - WLD/USDC

Date: 16/07/2024

Horizon / Timing:  Tactical Mid-term / 1 to 3 months

Scenario: 

World Coin (WLD) is consolidating since March 2024 and reached 76,4% Fibonacci retracement of the prior upside trend within a classic auto-similar move (corrective trend) calling for high probability to set a bottom above 1,50.

As Long as 1,50 remains a support valid a larger rise towards 3,60 is expected and 7,50 in extension (76,4% Fibonacci ratio)

Technical Key Elements:

• RSI indicator is bouncing off oversold area as pre signal
• The Moving average are still acting as resistance around 3,60
• Fibonacci key support is adjusted at 1,50 while the Elliot wave shows upside potential towards 3,60  and 7,50

Trade Idea conclusion: Buy 

• Target 2: 7.50
• Target 1: 3,60
• Buy: add in dip area 2,20
• Stop: 1.50

Chart: Daily Basis (Candle Stick) - Logarithmic 

Indicators: Exponential Moving Average (21/34/89) - RSI (21)

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