Could Worldcoin price shoot up 45% ahead of OpenAI’s live stream on Monday?
- Worldcoin price eyes a quick 45% rally in anticipation of OpenAI’s live stream on Monday.
- WLD needs to clear $6.70 hurdle before it can climb up to $8.55.
- A daily candlestick close below $4.22 support level will invaldiate the bullish thesis for the AI-based token.
Worldcoin (WLD) price has formed a double bottom around a key support level, suggesting a potential accumulation. If the OpenAI’s Monday live stream has a positive impact on Artificial Intelligence (AI) field, it could positively impact WLD and other AI-based tokens.
Also read: Arkham price primed for a recovery rally ahead of OpenAI’s announcement
Worldcoin price ready to move higher
Worldcoin price has set up a double bottom above the daily support level of $4.22. This technical formation comes after a 70% crash between March 10 and April 13, suggesting a bottomming of the downtrend and a potential reversal.
Worldcoin price has breached the $5.62 and came close to hitting its initial target of $6.70. But due to the overall market conditions, WLD retraced and is currently hovering around $5.62. If Bitcoin (BTC) price climbs higher, altcoins including WLD could see an upthrust that tackles the $6.70 hurdle.
Considering that the Relative Strength Index (RSI) and Awesome Oscillator (AO) are both bounce off their respective mean levels, overcoming $5.62 could propel Worldcoin price to the next key hurdle of $8.55. In total, this move would consitute a 45% gain for WLD holders.
WLD/USDT 12-hour chart
On the contrary, if investors decide that the OpenAI announcement is a not a big deal, it could suck the buying pressure out, causing Worldcoin price to slide lower. If WLD produces a daily candelstick close below $4.22 it would create a lower low and invaldiat the bullish thesis. In such a case, Worldcoin price could crash 35% and revisit the $2.71 support level.
Read more: Worldcoin’s four buy signals hint at a reversal rally
Author
Akash Girimath
FXStreet
Akash Girimath is a Mechanical Engineer interested in the chaos of the financial markets. Trying to make sense of this convoluted yet fascinating space, he switched his engineering job to become a crypto reporter and analyst.
