- Worldcoin was trading within a bullish setup, with market activity pointing toward increasing buying pressure.
- The imminent formation of a golden cross, along with supportive market metrics, further strengthens the outlook.
As a seasoned researcher with over two decades of market analysis under my belt, I can confidently say that Worldcoin [WLD] appears to be gearing up for a significant move. The combination of a symmetrical bullish pattern, a golden cross setup, and supportive market metrics all point towards an upward trend.
Having gained 31.74% over the past month, Worldcoin [WLD] is well-positioned to extend its rally.
As a researcher, I’ve noticed an intriguing development: the latest 0.35% surge seems to be in line with the foundations of a symmetrically bullish formation. This setup hints at a possible breakthrough and a potentially substantial uptrend ahead.
WLD set for a major move
At the current moment, on a 4-hour scale, Worldcoin is found within a symmetrical triangle in its price action, and it has just bounced back from the support area of this channel, suggesting a possible upcoming breakout.
Should the momentum remain robust, the next significant stop for WLD following a breakthrough of resistance could be around $2.650, which represents its near-term goal.
As a researcher, I’m observing a potential trend that could drive the price towards my projected long-term goal of $3.260, given the current bullish trend maintains its momentum.
If the channel’s resistance remains strong, WLD might initially dip slightly prior to another potential breakout, or alternatively, it could encounter a decline similar to its previous three attempts at this level.
Market sentiment supports this outlook, as detailed by AMBCrypto below.
Bullish shift for WLD
Over time, there’s been a growing trend of traders switching from bearish to bullish attitudes towards the stock WLD, as shown by an upward surge in long positions being established.
The change has been followed by a slight increase of 0.99% in the price, which in turn elevated the Open Interest to approximately $250.64 million.
Based on data from Coinglass, this gradual increase seems to indicate that the price of WLD might continue moving upwards in a similar fashion.
Additionally, as suggested by AMBCrypto’s findings, there’s been growing interest in the Funding Rate, currently sitting at 0.0109%.
As a researcher observing financial markets, I find that a favorable Funding Rate—where longer-term positions are compensating shorter-term ones—indicates an increased appetite for long trades. This situation could potentially pave the way for a market upswing.
Golden cross signals potential upside
At the current moment, Worldcoin (WLD) is moving towards a significant bullish sign, as a golden cross pattern has developed. This occurs when the blue Moving Average Convergence Divergence (MACD) line crosses above the orange signal line. Specifically, these lines crossed at values of 0.019 and 0.020 respectively.
Read Worldcoin’s [WLD] Price Prediction 2024–2025
This crossover suggests that WLD could gain further upward momentum.
Lately, the decline in negative trends suggests a potential change, and if the Golden Cross occurs, it’s probable that an increase in bullish indicators (green momentum bars) will ensue. This could set up WLD for substantial growth above its present values.
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2024-10-25 05:11