Worldcoin price bullish outlook abounds as WLD commits to robustness, expansion and neutrality
- Worldcoin price dropped 10% after a rejection from the $2.727 resistance level but remains broadly bullish in an uptrend.
- WLD could climb 23% to $3.000 if the $2.314 midline of the bullish technical formation holds as support.
- The optimism comes as the Worldcoin ecosystem commits to the robustness, widespread & neutral nature that’s characteristic of the internet.
- The bullish thesis will be invalidated upon a decisive candlestick close below the $2.154 support level.
Worldcoin (WLD) price is trading with a bullish bias despite showing partial weakness during the December 11 trading session. The AI crypto coin is at an inflection point, with the next move hinging on how the bulls play their hand from here on out.
Worldcoin compares to robust, widespread and neutrality of the internet
In a post on crypto X, Worldcoin highlighted that the ecosystem “must ultimately be as robust, widespread and neutral as the internet itself.” The statement comes after a turbulent year for the network, navigating troubles with the authorities from various jurisdictions.
Worldcoin must ultimately be as robust, widespread & neutral as the internet itself.
— Worldcoin (@worldcoin) December 11, 2023
In the most recent case, overflows from the OpenAI leadership saga boded well for Worldcoin, inspiring some buyer momentum as the WLD community stood with the face of the company, Sam Altman.
Worldcoin price outlook as WLD holders defend their bullish position
After a 10% crash, Worldcoin price continues to hold and consolidate within an ascending parallel channel. This bullish technical formation forecasts increased value as long as the price action develops within its confines.
Increased buying pressure above current levels could see Worldcoin price head north, with the potential to shatter past the $2.727 resistance level after one failed attempt. This could clear the way for an extension to the $3.000 psychological, with such a move constituting a 25% climb above current levels.
Despite the trajectory of the Relative Strength Index (RSI) to the south, its position above the 50 level is enough to go by, corroborated by the Awesome Oscillator (AO) in the positive territory.
WLD/USDT 1-day chart
Conversely, enhanced seller momentum could send Worldcoin price below the midline of the ascending channel, potentially flipping the $2.314 support floor into resistance. In the dire case, WLD market value could dwindle to test the $2.154 support level, with a break and close below it likely invalidating the abounding bullish outlook.
Author
Lockridge Okoth
FXStreet
Lockridge is a believer in the transformative power of crypto and the blockchain industry.
