Why Worldcoin Price Increase May Not Stop at $3
The price of Worldcoin (WLD) has increased by 10% in the past 24 hours, making it one of the best performing altcoins in the top 100. WorldCoin’s price increase brought the coin’s value to $2.90.
However, according to multiple indicators, this rise may be just the beginning of WLD’s continued rise. Here’s how.
Worldcoin surpasses bearish dominance, volume follows
Between June 6 and November 21, WLD traded within a descending triangle. A descending triangle is a bearish chart pattern defined by a downward-sloping upper trendline and a flat, horizontal lower trendline. This pattern usually signals Potential price drop Changes as sellers gain control.
When the price of a cryptocurrency breaks below horizontal support, it is a sign that the downward trend may intensify. But as of this writing, World currency has exploded It indicates that the altcoin is on a bullish path.
If it continues, Worldcoin’s price growth could exceed $3 in the short term. However, to verify this, we have to evaluate the position of other indicators.
One indicator that supports further rate hikes is WLD trading volume. Volume shows whether the market Actively trade a token. When it increases, more liquidity flows into the cryptocurrency.
On the other hand, if trading volume drops, the cryptocurrency will become less liquid. Additionally, volume can tell the direction of price movement. Typically, when volume rises along with price, it means the trend is bullish.
However, rising prices leading to lower volumes indicate a weak uptrend. Since Worldcoin’s price increase coincides with increased trading volume, this suggests that altcoins may continue to rise in value.
WLD Price Prediction: $4, Then Possibly $5
On the daily chart, World currency prices rise It is above the 20-period and 5-period exponential moving averages (EMA), which are technical indicators that measure cryptocurrency trends.
When the indicator is down and above the price, the trend is bearish. On the other hand, if the EMA is below the price and rising, the trend is bullish. The last time this happened, WLD price rose above $11.
If the pattern is in line with historical trends, the price of WorldCoin could rise to $3.92. If the bulls maintain this trend, the altcoin could rise above $4 and possibly even $5.10.
However, if the coin falls below the EMA again, WLD price prophecy Probably won’t happen. Instead, it could drop to $2.07.
Disclaimer
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