Why Worldcoin (WLD) Price is Surging? Will it Achieve a 30% Rise This Week?
Bitcoin prices are plummeting. The coin has fallen below $104,000, while world currency price has maintained a significant upward trend. Additionally, trading volume has surged to over $1 billion, indicating increased interest in the coin. Additionally, the coin ranks among the top altcoins on social media platforms. Therefore, the coin appears to be in the early stages of the market cycle, so more bullish action is expected soon.
Confidence in the coin surged after President Donald Trump announced a partnership with OpenAI, Oracle and SoftBank to invest in artificial intelligence. Interestingly, OpenAI is building Worldcoin, so market participants have become optimistic about the coin. In both the short and long term, the world coin is flying a bullish flag, showing clear odds of breaking out of a key support area that is expected to be retested soon.
The recent increase in price helped the coin break out of the falling wedge, which is a bullish event. However, bears are working to limit the gains, so daily closing prices become more critical. Taking the technical picture into account, the DMI just turned bullish and the RSI triggered a bullish divergence and moved above average. In addition, trading volume has also increased and is expected to exceed 25%.
If the bulls manage to sustain gains above wedge resistance, WLD price is currently believed to rise by more than 25% and reach the resistance zone between $2.8 and $2.9. This could pave the way for the price to rise above $3 and form a new ATH. Furthermore, if it fails to break above this level, it may face rejection and eventually fall towards the sub-$2 support. However, market dynamics do not appear to be favorable for the bears, so the bullish view remains.
