Worldcoin Rises to $2.89 with a 14% Surge in 24 Hours
Worldcoin (WLD) is trading at $2.89, marking a 14% increase in the past 24 hours, with daily trading volume skyrocketing by over 156%. The ongoing Bitcoin rally has sparked an altcoin season, driving Ethereum and other altcoins into bullish territory. A breakout above long-term resistance on the altcoin chart signals the start of a new upward phase for the market.
Worldcoin’s Performance in Focus
Worldcoin has gained significant momentum amid the altcoin buzz. Starting the day at $2.50, WLD surged to its current price of $2.89. Over the past week, the altcoin has seen a 26% increase, beginning at a low of $2.12 and steadily climbing. Data from CoinMarketCap also shows $4.43 million in WLD liquidations within the last 24 hours, with trading volume reaching $1.39 billion.
Can Worldcoin Sustain Its Rally?
Technical indicators suggest a bullish outlook for Worldcoin. The Moving Average Convergence Divergence (MACD) line has crossed above the signal line, reflecting positive market sentiment. If this trend persists, it could fuel a prolonged rally.
The Chaikin Money Flow (CMF) indicator, currently at 0.10, signals positive money flow and increasing demand for WLD. The altcoin’s four-hour chart indicates an ongoing upward correction. If this momentum continues, WLD could test resistance near $3. A breakthrough at this level could trigger a stronger bullish trend. 
However, if buying pressure diminishes, WLD may lose recent gains, potentially falling to the $2.60 support level. A failure to hold this support could expose the asset to further downside risks.
Market Sentiment and Key Metrics
WLD’s market sentiment remains neutral, with a daily Relative Strength Index (RSI) reading of 67.83. On the daily chart, the short-term 9-day moving average (MA) is above the long-term 21-day MA, indicating bullish momentum. These are currently positioned at $2.72 and $2.53, respectively.
Outlook and Caution
Worldcoin’s recent performance highlights strong market interest, but investors should remain cautious. Sustained bullish trends depend on maintaining positive indicators and breaking key resistance levels. Conversely, a decline in buying pressure could lead to significant corrections.
Disclaimer: This analysis reflects the author’s opinion and is not intended as investment advice. TheNewsCrypto advises readers to conduct their own research before making investment decisions.
