The Worldcoin (WLD) cryptocurrency has witnessed a significant price surge, reaching a new peak of $8.48. This milestone follows a rapid recovery from a temporary dip on February 21st. Investors and market spectators are keenly observing the currency’s performance to determine the sustainability of this growth trend.
Analysis of Worldcoin’s Daily Trading Patterns
Chart assessments indicate a strong bullish trend for WLD, with a series of positive daily candlesticks emerging over 11 days. This rally aligns with the debut of OpenAI’s innovative Text-to-Video product, Sora. Since Worldcoin breached a critical resistance level on February 19th, it has transformed that threshold into a base of support, fueling its ascent to record prices.
On various social media outlets, cryptocurrency enthusiasts and analysts express a bullish stance on WLD’s trajectory. Prominent investor Nihilus_XBT has highlighted a breakout from a descending resistance line, sharing these insights with the online community.
Future Projections for Worldcoin
Projections based on Elliott Wave theory suggest that WLD’s price could extend its upward course. This analytical framework examines price patterns and market sentiment to forecast movement, with the current pattern indicating that Worldcoin is in its third of five ascending waves.
Should WLD surpass the $9.15 resistance mark, the potential for a 40% increase to $11.85 is on the horizon, with the third wave reaching 3.61 times the first wave’s magnitude. However, failure to overcome this resistance could see WLD retract by 22% to its nearest Fibonacci support level at $6.45.