WLD/USDC - (UPDATE) 1,50 Tactical support penetrated - Alternative scenario confirmed

Market & Ticker: World Coin - WLD/USDC

Date: 16/07/2024

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

Scenario: 

WLD dropped sharply after having failed to accelerate to the upside before penetrating 1,50 key tactical support in Daily close.

The next key level to focus on area at 0,98 (Strategic support). 

A new analysis will be published in case of new clear bullish set up.

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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