Worldcoin (WLD) and Polygon (POL) Show Bullish Potential After Alameda Research Wallet Activity

Blockchain security firm PeckShield found wallet activity linked to crypto trading firm Alameda Research.

Blockchain security and data analytics company PeckShield has reported on several large cryptocurrency transactions from wallets linked to Alameda Research and wintermute.

According to a report shared by PeckShield on Monday, an Alameda-connected wallet moved 5 million WLD tokens, valued at around $16 million at the time of the transaction, to two anonymous addresses starting with 0xd9C4 and 0xEF90.

The report also stated that the Alameda-linked wallet transferred 1 million POL tokens, worth approximately $623,000 at the time, to crypto market maker Wintermute.

These large transactions have sparked interest among market participants, particularly in light of technical setups suggesting potential bullish movements for Worldcoin (WLD) and Polygon (POL).

Worldcoin (WLD) technical analysis suggests a bullish breakout may be imminent following the recent transfer. According to CryptoBull, a crypto asset analyst, WLD is forming an ascending triangle pattern on higher timeframes.

This pattern, combined with rising volume and strong momentum, could lead to a significant move for WLD. The crypto asset is currently trading around $2.76 after breaking through a resistance zone near $2.70.

Chart analysis reveals a well-defined ascending trendline supporting the current upward momentum. Potential price targets range between $4.20 and $4.50, indicating a potential increase of 52.84% from the breakout level.

Meanwhile, Polygon (POL) is also gaining attention among analysts who anticipate a breakout that could substantially impact its price. Venturefounder, another market analyst, has stated that POL could grow 10-20x if it breaks above $0.85.

However, POL is currently trading near $0.4160, consolidating within a symmetrical triangle pattern that has been forming since early 2022.

This pattern, along with support from the 200-week moving average around $0.30, could signify a turning point in the token's price action.

If the bullish trend materializes, Fibonacci retracement levels suggest upside targets of $4.25, $7.92, and $19.24. However, a decline below $0.30 could alter this outlook, highlighting the importance of monitoring key support and resistance levels.