Fun

Worldcoin Gains Upside Momentum: Is A Major Breakout Ahead?

News Feed - 2024-10-16 02:10:19

Este artículo también está disponible en español.


Worldcoin(WLD) is showing signs of a strong upward push, gaining traction toward the $3.2 key resistance level. As market optimism builds, many are wondering whether Worldcoin is on the verge of a major breakout that could propel it to new highs or if current gains might face resistance in the near term. 


With growing momentum in its favor, this analysis explores the recent bullish momentum behind WLD and assesses whether it has the potential to trigger a major breakout. By evaluating key resistance levels, technical indicators, and overall marketsentiment, we seek to determine if this rally can push the token to new highsor if a reversal is on the horizon. Analyzing Recent Gains Of Worldcoin


WLD is currently trading above the 4-hour 100-day Simple Moving Average (SMA), indicating a robust bullish trend. The recent breakout above the key $2.1 resistance level further strengthens its upward momentum, suggesting that buyers are actively pushing the price higher.  Should WLD maintain its position above this key threshold, it could open the door for more gains, with the next target potentially set at the $3.2 resistance level in the near future. WLD rises above the 100-day SMA with strong price movement | Source: WLDUSDT on Tradingview.com


An analysis of the 4-hour Relative Strength Index (RSI) reveals renewed bullish potential, as the RSI has surged to 77% after dipping to 52%. A reading above 70% often signals that an asset is approaching overbought conditions, indicating that WLD could experience short-term consolidation or profit-taking. However, if the buying pressure persists, it could lead to further upward movement, driving the price toward higherresistance levels. Related Reading No Ties To OpenAI: Worldcoin Drops 9% As Top Trader Issues Warning 5 months ago


Furthermore, the daily chart shows that Worldcoin is experiencing considerable pressure on the upside, characterized by a series of bullish candlestick formations. This positive trend is underscored by the asset’s position above the critical $2.1 support level and the 100-day SMA. As WLD maintains this upward trajectory, it reinforces optimistic sentimentin the market, setting the stage for potential gains as it approaches higher resistance levels. Worldcoin pushes past the $2.1 resistance and 100-day SMA | Source: WLDUSDT on Tradingview.com


Lastly, the RSI on the daily chart is currently positioned at 72%, well above the pivotal 50% threshold, which suggests that buying pressure significantly outweighs selling pressure in the market. Can WLD Maintain Its Uptrend, Or Will Bears Intervene?


WLD is currently exhibiting strong, upbeat momentum as it approaches the $3.2 resistance level. A successful breakout above this mark could unlock additional gains, potentially driving the price toward the $5.2 resistance level. Related Reading Worldcoin Drops 6% Amid Alameda Research 1.5 Million Token Sale, Will WLD Price Hold? 5 days ago


Conversely, if bears take control at the $3.2 resistance level, the price may start to decline toward the $2.1 support range. A drop below this level could trigger a deeper decline, possibly leading to a test of the $1.2 support level and beyond. WLD trading at $2.5 on the 1D chart | Source: WLDUSDT on Tradingview.com Featured image from LinkedIn, chart from Tradingview.com

News Feed

MonoSwap has been hacked, warns users not to deposit funds
Vince Quill7 hours agoMonoSwap has been hacked, warns users not to deposit fundsThe platform warned users not to deposit any new funds or open new positions at this time, as the future of the platform remains unknown.105
Core Everscale Developers Broxus to Host Elysium Hackathon in Belgrade and Online
Core Everscale Developers Broxus to Host Elysium Hackathon in Belgrade and Online press release PRESS RELEASE.Broxus, the core development team behind many of the platforms that mak
Fed Chair Says US Inflation ‘More Enduring Than Anticipated’ — Strategist Predicts 10% Market Correction
Fed Chair Says US Inflation "More Enduring Than Anticipated" — Strategist Predicts 10% Market Correction Americans are not only worried about future inflation, but they are also
Ross Ulbricht Genesis Collection NFT Auction Sees Millions of Dollars in Ethereum Bids
Ross Ulbricht Genesis Collection NFT Auction Sees Millions of Dollars in Ethereum Bids Two days ago on December 2, the Ross Ulbricht Genesis Collection auction of non-fungible toke
Bank Holdups and Protests Continue to Rise in Lebanon as Depositors Demand Their Own Savings
Bank Holdups and Protests Continue to Rise in Lebanon as Depositors Demand Their Own Savings On Dec. 17, reports detail that residents in Lebanon have been staging sit-ins and prot
Trump election bets boost Polymarket volumes to record $116M in July
Tom Mitchelhill5 hours agoTrump election bets boost Polymarket volumes to record $116M in JulyA massive surge in US presidential election bettors has already brought Polymarket record-breaking volumes just two weeks into
Senator Cynthia Lummis releases report attacking Biden’s mining tax
Vince Quill2 hours agoSenator Cynthia Lummis releases report attacking Biden’s mining taxThe pro-crypto senator claimed that Bitcoin mining consumes as much energy as household appliances such as tumble dryers.301 Tota
US Government Agencies Propose Changes to Funds Transfer Rules-Seek to Broaden Definition of Money to Include Cryptocurrencies
US Government Agencies Propose Changes to Funds Transfer Rules-Seek to Broaden Definition of Money to Include Cryptocurrencies The U.S. Federal Reserve Board and
Bitcoin To Explode To $210,000 This Year, Says Quant Powerhouse Presto
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
‘Teenage Bitcoin Millionaire’ Co-Founds $1 Million Investment Fund for Crypto Startups
The leaders of crypto payment app Metal Pay, Marshall Hayner and Erik Finman, are launching an investment fund. Dubbed Metal VC, the $1 million dollar fund will focus on micro and a
How to become a global citizen, with or without crypto — Nomad Capitalist
Vince Quill7 hours agoHow to become a global citizen, with or without crypto — Nomad CapitalistInternational migration may spike in the future due to geopolitical instability, financial collapse or changes to the clima
Bitcoin Retraces Below $109,000: Analysts Split on Future Outlook
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu