Turning Point Anticipated for WLD
With a notable 31.74% increase in the last month, Worldcoin [WLD] appears poised to continue its upward trend.
The recent uptick of 0.35% coincides with the formation of a symmetrical bullish pattern base, laying the groundwork for a potential breakout and substantial upward movement.
Currently, on the 4-hour chart, Worldcoin is confined within a symmetrical triangle and has recently bounced back from the support area of the channel, indicating a possible breakout in the near future.
Upon surpassing the resistance, WLD’s initial target is set at $2.650, serving as its short-term goal.
Further positive momentum could drive the price towards the long-term target of $3.260, contingent on the sustainability of the bullish trend.
Nonetheless, should the resistance within the channel hold strong, Worldcoin might encounter a minor retracement before attempting another breakout, or potentially enter a downward trajectory, resembling its previous three attempts at this level.
Market sentiment aligns with this analysis, as outlined by CryptoCrypto below.
Optimistic Outlook for WLD
An increasing number of long positions being initiated on WLD suggests a shift from bearish to bullish sentiment among traders.
This change is coupled with a modest 0.99% price hike, propelling Open Interest to $250.64 million.
Coinglass indicates that this gradual uptrend implies a potential price increase for Worldcoin.
Additionally, findings from CryptoCrypto reveal a rise in the Funding Rate, now standing at 0.0109%.
A positive Funding Rate, where long positions pay short positions, indicates an increasing preference for long trades, laying the foundation for a probable market upsurge.
Golden Cross Signifies Upside Potential
Worldcoin is on the verge of a significant bullish indication as a golden cross formation materializes, with the blue MACD line intersecting above the orange signal line, registering readings of 0.019 and 0.020, respectively.
This crossover hints at potential upward momentum for WLD.
The recent waning of bearish momentum indicates a possible shift, and completion of the Golden Cross could lead to a surge in green momentum bars, positioning Worldcoin for substantial gains beyond its current levels.