Story Highlights
Worldcoin’s price has recently broken above its previous horizontal trend, stirring excitement among investors.
Recent price movements suggest that bulls are eager to target the $5 mark as an initial goal.
After an impressive recovery, Worldcoin managed to overcome a resistance zone, igniting speculation about hitting double-digit figures soon. Despite facing a setback at $4.2, which led to a loss of over 50% in gains, the WLD price is showing signs of recovery, keeping bullish sentiment alive.
The shifting market dynamics have made bigger investors, often referred to as whales, highly alert. Data from Santiment reveals that millions of WLD tokens have been transferred to Binance and Okex, raising concerns of a potential bearish trend. The movement of these tokens back to exchanges could signal an impending sell or swap action, suggesting that vigilance around the WLD price trajectory is crucial.
Currently, the WLD price has established a support level around $2, and following a series of gains, a notable rebound has occurred. Although the volume indicates bullish potential, the threat of bearish momentum remains prevalent. The Gaussian channel, which helps track price trends, has recently turned bearish, causing further speculation about upcoming price movements.
In terms of indicators, the Relative Strength Index (RSI), which is also showing signs of recovery, raises questions about a potential decline. Analysts suggest that the Worldcoin price could encounter bearish resistance, potentially dipping below $2.5. However, support at $2.417 appears sturdy, possibly enabling a strong rebound that could lift the price back into the resistance zone between $2.9 and $3.05. Once this zone is surpassed, WLD might enter a more favorable discovery phase with less resistance. Hence, for the bulls to regain momentum, they must show substantial strength and maintain levels above $4.
If WLD can surpass the 2024 highs of $4.16, it could open the door for the price to reach levels above $5, setting the stage for a robust rally towards double-digit figures.
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FAQs
What is Worldcoin?
Worldcoin is a cryptocurrency initiative aimed at distributing digital assets globally through an innovative identity-verification system.
Is Worldcoin a good investment?
Many believe that Worldcoin could be a worthy investment for those looking at long-term growth potential.
Will Worldcoin hit $50?
While Worldcoin shows promise for growth, reaching $50 by the end of 2030 might be unrealistic expectations.
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