Worldcoin [WLD] has witnessed a notable surge over the last three days, making a significant leap from $2.01 to $3.04.
Currently, the trading price of Worldcoin stands at $2.28, reflecting an 8.15% surge in the last 24 hours. This positive momentum is also reflected in the weekly charts, showing a 3.13% rise.
Before this recent uptrend, Worldcoin had experienced a downtrend, with a decrease of 32.08% on monthly charts.
Despite the recent price increase, the altcoin remains around 80.93% below its record high of $11.82, observed ten months ago.
This market dip has opened up an opportunity for investors to enter at lower prices, contributing to the current surge driven primarily by increased buying activity.
Notably, respected cryptocurrency analyst Ali Martinez has pointed out another bullish signal in the market.
Market Sentiment Analysis
Martinez’s analysis highlighted a buy signal on daily charts based on the TD Sequential indicator.
When the TD Sequential indicator shows a buy signal, it suggests a potential reversal in the trend. The recent price drop has attracted more buyers, potentially leading to higher buying pressure and a subsequent price recovery.
Interpreting Worldcoin Charts
According to a analysis by CryptoCrypto, Worldcoin is showing strong positive momentum with increasing bullish sentiment.
This bullish momentum is evident in the altcoin’s MACD, which is nearing a bullish crossover. Once this crossover occurs, it will confirm a strengthening bullish trend.
Further evidence of bullish sentiment is the rising Advance Decline Ratio (ADR), currently standing at 1.56.
An ADR greater than 1 indicates more gains than losses for Worldcoin, signaling a potential widespread rally.
Additionally, Worldcoin’s Open Interest per Exchange has risen from $110 million to $122 million in the past week.
An increase in Open Interest suggests new buyers entering the market, boosting prices as positive sentiment grows stronger.
Moreover, Worldcoin’s positive price DAA divergence in the past week indicates an increase in active users.
This uptrend in network activity and fundamental strength may impact prices, potentially signaling a forthcoming rally, a key indicator for investors to monitor.
Future Prospects for Worldcoin
Worldcoin appears to be heading towards a potential recovery phase, with favorable market conditions hinting at further price gains.
If bullish momentum continues, Worldcoin could potentially retest $2.42 in the short term, with a breakout potentially propelling it to $3. Conversely, a market correction could lead to a price drop to around $2.