Here’s Why Worldcoin in Price Discovery Mode Sees 24% Upswing Ahead
Highlights
- The market capitalization of the AI sector experienced a 10% increase, reaching $42.7 billion, while its trading volume saw a 20% rise to $6.5 billion.
- A bullish breakout from the flag pattern sets Worldcoin for a prolonged rally.
- The intraday trading volume in Worldcoin is $1.84 Billion, indicating a 204% gain.
The forthcoming Nvidia 2024 GTC Conference and the anticipated reveal of OpenAI’s newest generative AI model, GPT 5, have spurred a notable surge in the cryptocurrency market, particularly boosting tokens associated with Artificial Intelligence. Amid this enthusiasm, the Worldcoin price surged past the crucial $10 mark and set a new all-time high of $11.02 on Saturday. Moreover, the price surge indicates a breakout pattern in the daily chart, suggesting a prime opportunity for traders waiting on the sidelines to make their move.
Also Read: Sam Altman’s Worldcoin Faces Roadblock In Spain, WLD Price Dips 12%
Flag Pattern Signals Continued Upward Momentum
The WLD coin re-entered the recovery trend in mid-week when the price rebounded from the $5.6 support. This dramatic pivot resulted in a 92% surge in Worldcoin, solidifying its bullish dominance with a milestone at $10.
Significantly, WLD’s price movement reveals a bullish breakout from a flag pattern on the daily chart, indicative of a continuation in the upward trend. The successful breach above the bullish flag pattern hints at an extended bullish phase for investors.
Presently, WLD price is trading at $10.76, marking a 43% increase within a single day, highlighted by a large engulfing candlestick pattern. This substantial rise, coupled with a spike in trading volume, has propelled the coin to a new all-time high, underscoring the strength of the uptrend.
The market pundit hints the sudden upswing is also linked to Sam Altman’s return to the OpenAI board following a short and contentious absence.
New additions to our board: Dr. Sue Desmond-Hellmann, Nicole Seligman, and Fidji Simo; Sam Altman will also rejoinhttps://t.co/6TS1C4etjr
— OpenAI (@OpenAI) March 8, 2024
Is the Worldcoin Price Heading to $12?
With the bullish breakout rally, the pivot points project strong targets on the upside. With the next target at $13.25, the WLD price is on a rally and puts an upside potential of 24%. However, a potential retest of the supply line breakout can result in a pullback to $9.4.
- Pivot Levels: The traditional pivot level marks the immediate resistance of the WLD price at $13.65 and $17.8
- Average Directional Index: The ADX slope, standing at 44%, indicates strong bullish momentum which could be nearing its peak of intensity.
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