- Worldcoin price is up 25% since the broader market rally kicked off on October 18.
- WLD could rise 20% depending on how bulls’ face the equal highs at $1.948 and $2.049 levels, respectively.
- Invalidation of the bullish thesis will occur if the AI crypto coin breaks and closes below the $1.661 support level.
Worldcoin (WLD) price has been on an uptrend, following on the heels of the broader market in the rally that began on October 18. The upside momentum for the AI crypto coin could get a boostsoon as its founding company, OpenAI, readies for the first artificial intelligence developer conference.
Also Read: WLD price poised for recovery as OpenAI gears up for first AI developer conference
Worldcoin price has 20% gains in the cards, but there is a catch
Worldcoin (WLD) price is up 25% since October 18, when the cryptocurrency market started rallying. Bitcoin (BTC) price has led the pack, with what has culminated in a 30% rise to the current price of $35,132.
Momentum is strong for Worldcoin price, suggested by the position of the Relative Strength Index (RSI) above 50. The Awesome Oscillator (AO), ably positioned in the positive territory, also supports this stance. Together, the two indicators show the odds favor the bulls over the bears.
Increased buying pressure above the current level could see Worldcoin price rise to tag the immediate resistance levels at $1.948 and $2.049, critical barricades as they form a resistance zone akin to a layer of equal highs.
In a highly bullish case, the gains could extend for Worldcoin price to test the supply zone extending from $2.189 to $2.430. This would constitute a 20% rise above current levels for conservative traders.
A decisive move above the midline of this order block at $2.317 would confirm the continuation of the trend. Such a move would set the tone for Worldcoin price to aim for the $2.600 psychological level.
-638349533893354258.png)
WLD/USDT 1-day chart
On the flipside, if Worldcoin price fails to clear the equal highs and sellers overpower the bulls, WLD could spiral south, finding initial support due to the 50-day Exponential Moving Average (EMA) at $1.688 and ultimately the $1.661 level if the former one fails to hold as a support floor.
In the dire case, the downfall could see Worldcoin price stretch to the $1.450 swing low, 20% below the current market value for WLD token.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
VanEck sees Bitcoin reaching $61 trillion market cap, Marathon buys $100 million BTC
Bitcoin declined by 1% on Thursday following asset manager VanEck's forecast that the top digital asset will reach a $61 trillion market capitalization by 2050.
Ethereum Classic price sets for a rally following retest of key support
ETC edges higher by 2.3% and trades around $22.60 at the time of writing on Friday after testing a key support area the day before. On-chain data showing increased account growth suggests a bullish move ahead. Ethereum Classic price faced rejection by the daily resistance level of $25.13 earlier this week.
Celebrity meme coins lose their shine
Celebrity meme coins report by Jupiter Slorg on Thursday shows that these tokens have been in deep waters since early July after experiencing heavy growth in June. In a recent analysis, Jupiter Slorg revealed that celebrity meme coins are down by an average of 94% from their all-time highs.
Ripple gains 5%, Mark Cuban says Kamala Harris’ nomination could affect SEC lawsuit
Ripple (XRP) made a comeback above key psychological resistance early on Wednesday. Crypto traders are optimistic after the Ethereum Exchange Traded Fund (ETF) launch. Entrepreneur and investor Mark Cuban recently shared his comments on how Kamala Harris’ nomination to the Presidential elections could influence crypto regulation.
Bitcoin: Will BTC manage to recover from recent market turmoil?
Bitcoin recovers to $67,000 on Friday after finding support around $63,500 a day before. Still, BTC losses over 1.50% on the week as Mt. Gox persists in transferring Bitcoin to exchanges.