SOL, DOGE, WLD Rebound Sharply: Dead Cat Bounce or Bullish Reversal?

Solana (SOL), Dogecoin (DOGE), and Worldcoin (WLD) have emerged as the hottest coins in the last 24 hours based on volumes. Notably, all have rebounded sharply from their respective local support levels, erasing some, if not all, the losses they incurred in recent weeks.

However, concerns remain that the ongoing price rebounds may turn out to be dead cat bounces, i.e., a temporary, short-lived recovery in the price of a declining asset, often followed by a continuation of the downtrend.

Let’s examine whether that is true with Solana, Dogecoin, and Worldcoin.

Solana (SOL) Technical Analysis

SOL/USD Four-Hour Chart Analysis: SOL is Halfway Through A Bullish Reversal Pattern 

Solana has formed an inverse head-and-shoulders pattern on the four-hour chart, a classic bullish reversal structure. The price has rebounded from support near $175, with the neckline resistance at $191. A breakout above this level could signal further upside, targeting the $200-$210 range.

The Relative Strength Index (RSI) has risen to 47.26, reflecting neutral momentum, though the recent bounce suggests improving buyer activity.

Additionally, SOL’s price is testing its 50-EMA ($191) as an immediate hurdle. This level aligns with the neckline resistance, making it an ideal upside target during the rebound stage.

A sustained move above $191 and the 200-EMA ($201) would reinforce bullish sentiment. Conversely, failure to breach these resistances could prompt a retest of the $175 support zone.

SOL/USD Weekly Chart Analysis: Rising Wedge Pattern Threatens Short-Term Gains

The weekly chart presents a more cautious outlook. SOL remains within a rising wedge pattern, a bearish continuation setup. The 0.618 Fibonacci retracement level at $167 has acted as strong support during the recent downturn, but overhead resistance at $210 (0.786 Fib level) remains a key barrier for a sustained recovery.

Notably, the RSI on the weekly chart hovers near 50, suggesting neutral momentum. A breakdown below $167 could validate the rising wedge’s bearish target near $70.

Dogecoin (DOGE) Technical Analysis

DOGE/USDT Four-Hour Chart Analysis: Correction Expected Next

Dogecoin has rebounded to $0.343 after retesting support near $0.317. However, the recovery faces resistance at $0.35, aligned with the 0.382 Fibonacci retracement level and the 200-4H exponential moving average (200-4H EMA; the blue wave).

The RSI currently reads 55.94, indicating moderate bullish momentum. A successful break above $0.35 could open the door for DOGE to target $0.37-$0.40 in the short term. However, a rejection at this level might see the price revisit support at $0.32 or lower.

DOGE/USD Weekly Chart Analysis: A 35% Crash Likely

On the weekly chart, DOGE remains confined within what appears to be a bull flag pattern.

The price has entered the correction stage after testing the flag’s upper trendline as resistance. This level aligns with the 0.5 Fibonacci retracement line at around $0.395.

If the correction continues, DOGE could drop toward the flag’s lower trendline next, aligning with the 0.236 Fibonacci retracement line and the 50-week EMA at around $0.21. In other words, Dogecoin may decline by 35% in the coming weeks.

Worldcoin (WLD) Technical Analysis

WLD/USD Four-Hour Chart Analysis: Big Sell Wall Ahead

Worldcoin has rebounded to $1.99 but remains under significant pressure from the support-turned-resistance area, aligning with the $2.01-2.07 range.

Staying under the area increases WLD’s risks of declining toward the descending trendline target near $1.85. This is further possible due to RSI staying below its January 2025 resistance level of 48.55.

Alternatively, reclaiming the resistance area as support would invalidate the bearish setup, allowing the price to target its 50-4H EMA at $2.15 or higher.

WLD/USD Weekly Chart Analysis: 

The weekly chart highlights WLD’s persistent downtrend, with lower highs and consistent rejections at Fibonacci levels.

For now, the price appears to be testing a multi-year ascending trendline as support. A further selloff in WLD markets could land the price near the same level, aligning with a recent support of around $1.69.

Conversely, a bounce from current price levels could take the price toward WLD’s 50-week EMA at around $2.68.