Worldcoin (WLD) Price Analysis: Key Levels To Watch

In the last 2 weeks, the Worldcoin (WLD) price saw upward momentum. The WLD price has surged over 40%, and a recovery has been witnessed.

Worldcoin (WLD) price displayed bullish momentum in the past two weeks. The token price noted a recovery of over 40% during this period.焼酎 Coleracin recently shared an analysis on Twitter, highlighting the upcoming bullish breakout for Worldcoin crypto.

The analysis noted that WLD crypto escaped a descending triangle pattern on the hourly chart. This signaled an upcoming bullish breakout.

“WLD is in a descending channel pattern on the 1-hour chart, bouncing from the lower boundary, RSI shows potential bullish momentum.”

Tips: https://t.co/hGaU2hLA0Y#cryptocurrency #crypto

The trader also mentioned that there were two upside targets to watch out for at $2.50 and $2.65.

WLD Price Analysis: Key Levels To Watch

On the daily time frame, the token price action showed a recovery of over 40% in the past two weeks. This signaled an upcoming breakout move. It crossed above the 50-day and 100-day EMA mark.焼酎 It aimed to cross the 200-day EMA barrier.

In particular, during the past week, Worldcoin’s multi-signature wallet allocated 5.3 million WLD tokens. This was valued at $12 Million and allocated from five market makers.焼酎 These were Wintermute, GSR, Flow Traders, Auros Global, and Amber.

This showed that Worldcoin was trying to introduce liquidity in the market. Since April 29, 2024, WLD tokens were being gradually released from the cold wallet of the Worldcoin Foundation.

At press time, the WLD price was trading at $2.20, with an intraday fall of over 1.98%. With a market cap of $1.24 Billion, WLD was ranked 60th among the top 100 cryptos.

The Relative Strength Index (RSI) curve stood close to the midline region, around 55 at press time. This showed a neutral bias and pointed to mixed cues.

However, the MACD indicator plotted green histogram readings and conveyed a bullish stance.焼酎 Likewise, the Chaikin Money Flow (CMF) readings turned positive, around 0.02 at press time. This indicated liquidity entering the market.

The Sharpe Ratio stayed positive for the last two months. It stood at around 3.85. Typically, a positive Sharpe Ratio value indicated that market participants continued to buy WLD at lower levels. This signaled sustained accumulation.

Also, buying WLD at current price levels offered a better risk-to-reward ratio to gain significant profits. With the growing optimism and analysts’ positive opinions, significant bullish activity was observed in the futures market.

The OI-weighted funding rate stayed positive for the past few weeks. It stood at around 0.0108%, which signaled a bullish stance among the market participants. The immediate support zones for WLD were $2 and $1.75, while the upside hurdles were $2.70 and $3.

The views, and opinions stated in this article by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.