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Elena R
Elena R
Author
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
- Oct 14, 2024 11:02 UTC
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Worldcoin Price Prediction: Technical Analysis Hints at 30% Rally Ahead!
WLD price increased by over 12% to $2.29 due to the Uptober rally and a breakout of a major resistance level.
Worldcoin's World ID program has surpassed 6.9 million users, boosting bullish sentiment.
WLD price is forming a bullish inverted head and shoulders pattern, indicating potential for further gains in the short term.
The ongoing recovery in the crypto market, fueled by the Uptober narrative, has led to a remarkable surge in Worldcoin (WLD) of over 12%. As of Monday, October 14, during the early mid-London session, WLD is trading around $2.29, breaking through a key resistance level of approximately $2.14. This mid-cap altcoin boasts a daily average trading volume exceeding $691 million.
But what’s driving this sudden surge in WLD? And is this just the beginning of a much larger rally?
Read on to discover the forces behind this bullish sentiment and explore the technical analysis that suggests WLD is poised for even greater heights.
Forces Behind the Bullish Sentiment
Founded in 2021 by a group of entrepreneurs led by OpenAI CEO Sam Altman, Worldcoin has quickly become a major Web3 platform with millions of users. Currently, the World ID program has surpassed an impressive 6.9 million users from more than 160 countries.
As a result, over 220 million WLD coins have been claimed by users who have successfully verified their identities.
Recently, Worldcoin has intensified its global expansion efforts, particularly in Europe, with notable growth in countries like Austria and Poland.
With the ongoing rollout of more ORB devices to streamline the human verification process, speculation around WLD is heating up.
Worldcoin (WLD) Price Targets
From a technical standpoint, the WLD price appears set for further gains in the coming weeks. The altcoin is forming an inverted head and shoulders (H&S) pattern on the daily timeframe, coupled with bullish divergence on the Relative Strength Index (RSI).
Following today’s breakout above the resistance level of around $2.17, the WLD price has confirmed both a higher low and a higher high—signs of an emerging bullish market trend.
In the short term, WLD is targeting a price range between $2.90 and $3.20, indicating a potential rally of at least 30%. This target aligns with the 1.618 daily Fibonacci Extension, adding to the optimism surrounding WLD’s future.
Are you bullish on Worldcoin’s future? Join the conversation.
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