Worldcoin Price Surges 10% As World ID Gains Wider Adoption, And This PEPE 2.0 ICO Heads For $16 Million
Release: 2024/09/26 16:03 Reading: 322
Worldcoin Price Soars
Worldcoin's price has witnessed a significant surge of 10% over the past 24 hours, reaching $2.07 as of 00:28 a.m. EST. Notably, the trading volume has skyrocketed by 79% to an impressive $761 million.
Global Expansion Drives Adoption
The recent launch of World ID in Guatemala, Malaysia, and Poland has contributed to its growing adoption. This expansion demonstrates the increasing demand for human verification, fueling Worldcoin's price momentum.
Technical Analysis Reveals Bullish Trend
According to data from GeckoTerminal, Worldcoin's price has experienced a downtrend from August's end to September's beginning. However, the support level at $1.3 has enabled the bulls to push the price up towards the $1.98 resistance level, forming a rounding bottom pattern.
WLD has surpassed both the 50-day and 200-day Simple Moving Averages (SMAs), suggesting a transition into a stronger uptrend. The "Golden Cross" (50 MA crossing above the 200 MA), which occurred at approximately $1.55, is a notable bullish signal.
Strong Volume Supports Price Rise
The substantial increase in volume during the recent price surge indicates strong participation in the upward move. This volume surge, coupled with the price breaking key resistance levels, provides further support for the bullish outlook.
Bullish Momentum Indicators
The Relative Strength Index (RSI) has approached the overbought region, currently hovering around 67. This suggests intense buying pressure for WLD. The Moving Average Convergence Divergence (MACD) is positioned above the signal line, indicating continued upward momentum. A crossover of the MACD line above the signal line would further support the bullish trend.
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Price Prediction
The WLD/USD chart exhibits bullish momentum, with the price residing above both the 50 and 200 moving averages, accompanied by strong volume. The bullish price pattern and indicators suggest a potential surge towards $2.78.
However, investors should be aware of a potential correction as the WLD token faces a $74 million unlock event. Additionally, the RSI nearing overbought territory could trigger a short-term pullback or consolidation. The 50-day SMA at $1.65 serves as an immediate support level in such a scenario.
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