Wldusdt trading idea

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WLD initially formed a rising wedge, a well-known bearish reversal pattern, within the External Supply Zone. The break below the wedge triggered a significant drop, pushing price through the Supply Zone before finding support in the Critical Demand Zone, which also aligns with a key Fibonacci retracement level.

Currently, price is developing a falling wedge, a typical bullish reversal structure, suggesting potential upside momentum. A breakout above this wedge could confirm trend reversal, with the first key target around $4.029, aligning with the Supply Zone. If momentum sustains, the next major resistance stands at $11.424, near previous structural highs.

With RSI showing signs of reversal from oversold territory, will this bullish setup play out?

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Price re-gain back above our previous accumulation zone, this is very bullish we anticipate a potential immediate test on the top boundary of the channel as shown on the chart here.

16 thg 5

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Price still holding within the descending channel.

9 thg 8

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28 thg 10

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The previous re-accumulation zone still valid, ignore the wick