On September 12, Worldcoin (WLD) experienced a dramatic price surge, breaking free from its previous resistance levels. The catalyst for this sharp upward move? The release of OpenAI’s latest AI model, o1. As Bitcoin’s volatility had kept WLD struggling below significant resistance, this news has ignited a new wave of excitement in the crypto market.
OpenAI’s o1 Models – A Game Changer For Worldcoin?
OpenAI, the powerhouse behind ChatGPT, unveiled its new AI models, known as o1, on September 12. These models are touted as a major leap forward in AI capabilities, designed to offer deeper, more reasoned responses across various complex fields such as cognition, quantum physics, and coding. Dubbed “Project Strawberry” in hush-hush circles, o1 models are said to be far more advanced than the previous GPT-4o iteration.
The announcement sparked an explosive reaction in the Worldcoin market. Within a mere four-hour window, WLD’s price surged by an impressive 16% before stabilizing at around 5%. During the London trading session, WLD hovered near $1.49, reflecting the immediate market response to OpenAI’s groundbreaking release.
Why the Sudden Rise in Worldcoin Price?
The spike in Worldcoin’s price can be partly attributed to the direct connection between OpenAI and Worldcoin. Sam Altman, a key figure behind OpenAI, is also a co-founder of Worldcoin. Recently, Worldcoin has been making headlines with its global airdrop, significantly boosting blockchain adoption and generating substantial buzz despite ongoing critiques about its tokenomics and market behavior.
Worldcoin Price Prediction – Can WLD Hit $2?
Worldcoin has been battling to surpass the $1.50 mark, a level it has struggled to breach since late August. However, the recent price action, driven by OpenAI’s announcement, saw WLD break through this barrier. This upward momentum completed a cup-and-handle chart pattern and established a bullish reversal market structure.
Currently, WLD faces resistance at $1.60, aligning with the 200-day exponential moving average. A successful retest of this level as support could set the stage for a continued bullish trend, potentially pushing WLD up by 34% to reach $2.00. Should buying pressure remain strong, the price could even break past the $2.00 psychological threshold, targeting a major resistance at $3.20.
Also Read: Singapore Investigates Worldcoin Trade As WLD Price Surges 4% To $1.66 Amid New Privacy Features
On the flip side, if Worldcoin fails to sustain its position above $1.50, it could signal a bearish shift, with potential declines to $1.35 or $1.25.
In summary, as Worldcoin rides the wave of OpenAI’s latest innovation, its price trajectory is poised for significant movement. Whether WLD can maintain its upward momentum and hit $2 will depend on continued market enthusiasm and successful technical support retests.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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