Worldcoin (WLD) Forms Bullish Pattern, Signaling Potential Price Hike

Within days of the altcoin noting some losses on the charts, the crypto caught the attention of traders and analysts after its technical indicators flashed a bullish signal.

Worldcoin (WLD) has been subjected to an interesting narrative of late. While the altcoin's presence on the charts highlighted a loss over the last few days, its technical indicators seemed to have caught the attention of traders and analysts alike after a bullish signal was noted.

According to an analysis by AMBCrypto, Worldcoin (WLD) formed a rounded bottom pattern on its technical chart. This pattern is often regarded as a bullish signal in technical analysis. It typically suggests that after a period of decline, selling pressure has waned and buyers are gradually gaining control, setting the stage for a potential uptrend.

The Fear and Greed Index, displayed alongside the price chart on a TradingView analysis, had a reading of 50 at press time. This reading indicates that the market is neither overly fearful nor excessively greedy, providing a stable foundation for potential bullishness. As the market digests the altcoin’s previous movements, the rounded bottom pattern could be the precursor to a price surge.

A shift in market sentimentAccording to the TD Sequential indicator on the weekly chart for WLD, multiple buy signals, including A13, C13, and S13, were highlighted on the technical chart. This well-known indicator is used to predict trend reversals by identifying exhaustion points in price action.

The appearance of these buy signals hinted that WLD’s down trend may be nearing its end and that a bullish reversal may be on the horizon. A shift in market sentiment was signaled by these buy signals.

An alignment of these TD Sequential signals with the rounded bottom pattern supported the idea of a price surge. If market conditions continue to align, these buy signals could lead to a significant upswing in WLD’s price.

A sign of things to comeWorldcoin’s (WLD) recent volatility flashed a reading of 121.90% at press time. Such high volatility is characteristic of the crypto market, often accompanying significant price swings.

The prevailing volatility could indicate that market participants are actively preparing for a price change. Historically, periods of high volatility have preceded trend shifts, and this pattern means that WLD may be on the verge of a rebound.

If the market volatility remains high, it could signal that WLD is primed for a potential breakout, following a similar trajectory as past rebounds.

Growing interest fuels potential upswingFinally, an analysis into the Open Interest of WLD Futures on Binance revealed a hike over recent weeks. Here, Open Interest represents the total number of outstanding futures contracts and can serve as an indicator of growing market interest.

The aforementioned findings suggest that more traders are now positioning themselves in anticipation of price movements, which is also supported by the buy signals from the TD Sequential indicator and the positive price pattern on the charts.

This growing interest in futures is significant as it hints at the possibility of a bullish move, especially as it suggests that investors are reacting to the potential for an upside in Worldcoin’s [WLD] price.