Worldcoin (WLD) has shown strong upward momentum over the past month, with a 31.74% gain, and the trend suggests further growth could be on the horizon. Recent price action indicates that WLD is forming a symmetrical bullish pattern, setting the stage for a potential breakout.
As Worldcoin continues its rally, traders and analysts are watching closely, with indicators signaling the possibility of a major upward movement. Could WLD be on track for a significant price surge?
Technical Analysis – WLD Poised For A Breakout
At the time of writing, Worldcoin was trading within a symmetrical triangle, a key technical pattern that often precedes a breakout. On the 4-hour chart, WLD recently rebounded from the support zone of this triangle, signaling potential for upward momentum.
The short-term target for WLD after breaching the triangle’s resistance is set at $2.65. If bullish momentum holds, analysts suggest that the price could further climb to its long-term target of $3.26.
However, there’s a note of caution. If the channel’s resistance proves too strong, WLD could face a pullback before attempting another breakout. This scenario is not unusual for Worldcoin, which has experienced three previous failed breakout attempts at this level.
Market Sentiment and Supportive Indicators
Market sentiment appears to support the bullish outlook for Worldcoin. According to data from Coinglass, the number of long positions being opened on WLD has been steadily increasing. This shift suggests that previously bearish traders are now adopting a bullish stance.
Open Interest, a key indicator of market activity, has risen to $250.64 million, reflecting growing confidence in WLD’s potential rally. Alongside this, the Funding Rate has gained traction, reaching 0.0109%. A positive Funding Rate indicates that long positions are paying short positions, signaling increasing demand for long trades—a bullish sign for Worldcoin.
One of the most significant technical indicators supporting WLD’s potential rally is the formation of a golden cross on the MACD (Moving Average Convergence Divergence) chart. At the time of writing, the blue MACD line had crossed above the orange signal line, signaling a bullish shift. The readings of 0.019 and 0.020 suggest that WLD could experience further upward momentum.
If this golden cross completes, it could lead to a surge in buying pressure, driving the price higher. With bearish momentum weakening and green momentum bars starting to appear, WLD may be on the verge of a sustained rally.
Is Worldcoin Set for a Major Price Surge?
With strong technical indicators and growing market sentiment, Worldcoin (WLD) appears well-positioned for a significant price breakout. If the current bullish momentum continues, WLD could reach its short-term target of $2.65 and potentially rise to $3.26.
However, traders should remain cautious. If WLD’s resistance levels hold firm, the token may experience a short-term pullback before making another push. Still, with key indicators such as the golden cross and rising Open Interest, the outlook for Worldcoin remains bullish in the near term.
As always, investors should keep a close eye on market trends and adjust their strategies accordingly, but the potential for a major move in WLD is undeniable.
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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