- Worldcoin price uptrend is under threat following the exit of CEO Sam Altman, which has sparked disturbance in the ecosystem.
- 505 out of 700 OpenAI employees, or 72%, have signed a letter demanding the board resign following Sam Altman ouster.
- WLD could drop 20%, falling out of the ascending parallel channel by slipping below the $1.836 support level.
- The bearish thesis will be invalidated once the price breaks and closes above the range high at $32.721.
- Microsoft has assured the 505 letter signers that there are open positions for all of them should they choose to join.
Worldcoin (WLD) price continues to bear the brunt of discord in the hornet’s nest, OpenAI, where turbulence continues to intensify after last Friday’s ousting of former CEO and face of the company Sam Altman that saw him join Microsoft to lead a new advanced AI research team.
Notably, Sam Altman is the brainchild behind Worldcoin, a cryptocurrency project founded in 2019. He also became CEO of OpenAI in 2019. The company became famous about one year ago for its artificial intelligence chatbot called ChatGPT.
Worldcoin price records volatility amid intense discord at OpenAI
Worldcoin price and the WLD market have experienced a tumultuous weekend following a disagreement in the OpenAI boardroom. The board ousted Altman from his position as CEO by saying there was a lack of communication transparency from the CEO and doubts about his leadership capabilities.
His exit spurred an uprising among OpenAI employees, who largely stood in support of their ousted CEO. Among them, Greg Brockman, President and co-founder of OpenAI, who had worked with Altman to build the company, said he would quit shortly after. Three other senior researchers also announced their departure, according to reports from The Information.
Sam and I are shocked and saddened by what the board did today.— Greg Brockman (@gdb) November 18, 2023
Let us first say thank you to all the incredible people who we have worked with at OpenAI, our customers, our investors, and all of those who have been reaching out.
We too are still trying to figure out exactly…
While Altman equated his ouster from the firm to “reading your own eulogy while you’re still alive,” the situation has culminated with him joining Microsoft Corporation to lead a new advanced AI research team. Still, unrest remains at OpenAI as employees push for the board to resign.
In this stance, 505 staff members, out of the total population of 700 employees working at the company, have signed a letter demanding the board steps down and two lead independent directors be appointed, possibly Bret Taylor and Will Hurd, along with the reinstatement of Brockman and Altman.
505 of 700 OpenAI employees signed this letter telling the board they should resign and this is the most important sentence in that letter— Amal (@amalsony_) November 20, 2023
Satya Nadella has successfully acquired a non-profit lmfao pic.twitter.com/vAkHdfzqGN
With this ultimatum, an interesting line in the letter reads, “Microsoft has assured us that there are positions for all OpenAI employees at this new subsidiary should we choose to join.”
Worldcoin price continues to suffer by association, as Altman is the main link between OpenAI and the WLD ecosystem.
Affected by the news of #OpenAI ex-CEO Sam Altman(@sama), the price of $WLD experienced huge fluctuations and reached an all-time high.— Lookonchain (@lookonchain) November 20, 2023
The market maker #GSR deposited a total of 1.83M $WLD ($4.47M) to exchanges in the past 7 hours.https://t.co/YN7DSxxWoO pic.twitter.com/qKxLE9DLhU
Worldcoin price outlook amid ongoing unrest at OpenAI
Worldcoin (WLD) price uptrend is under threat with the bleed from Altman’s exit refusing to cauterize. The token’s price attempted to break out from above the upper boundary of an ascending trendline. It was rejected, however, and now WLD is selling for $2.306.
Increased selling pressure could see Worldcoin price extend below the support offered by the midline of the ascending channel before reaching the $2.000 psychological level. If that level fails, WLD could spiral to the support confluence between the horizontal line and the lower boundary of the channel at $1.836.
The Relative Strength Index (RSI) supports this outlook, deviating south to show momentum is falling. Notably, it is also about to cross below the signal line (yellow) band, a move often interpreted as a sell signal. Traders heeding this signal could solidify the downtrend for Worldcoin price.
Meanwhile, the Awesome Oscillator (AO) also supports the outlook, with its histogram bars flashing red to show the presence of bears in the market.
WLD/USDT 1-day chart
On the flipside, increased buying pressure could send Worldcoin price north. A confirmed break and close above the $2.317 critical support, marking the midline of the supply zone ranging from $2.189 to $2.430, would confirm the continuation of the move north.
In a highly bullish case, Worldcoin price could shatter the $2.721 resistance level to tag the $3.000 psychological level. Such a move would constitute a 30% climb above current levels.
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