The cryptocurrency market is buzzing with positive sentiment as altcoins across the board experience a bullish reversal. Among them, Worldcoin (WLD) stands out with a 27% gain last week and a further 16.24% jump in the first few days of this week, suggesting a strong potential for continued growth.
WLD’s Price Trajectory: A Look Back and Ahead
After a neutral start to 2024, WLD witnessed a significant surge in March, fueled by the rising popularity of AI-related projects. The price skyrocketed over 455% to a new all-time high of $11.820 before experiencing a correction of over 62%. Since then, it has been consolidating within a range of $4.40 and $6.025.
However, recent technical indicators paint a bullish picture. The 50-day EMA shows a positive convergence, suggesting an upward price movement in the near future. Additionally, the MACD indicator displays a rising green histogram, confirming the strong bullish sentiment within the market.
Predicting WLD’s Price Movement
If the bulls can push the price above the $6.025 resistance level, WLD could potentially reach its next resistance level of $7.650 this week. Sustaining this momentum could pave the way for a further test of its previous high of $9.160 by the weekend.
However, a bearish reversal could also occur, causing WLD to fall below the crucial support level of $4.40 and enter a negative price cycle.
Also Read: Worldcoin (WLD): From $3 to $8 in a Week, Can it Hit $13 by end of 2024? (Plus Predictions to 2050)
While the future remains uncertain, the current technical indicators and recent bullish momentum suggest a positive outlook for Worldcoin in the coming days. Investors should closely monitor price action and key resistance/support levels to make informed decisions.
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