Here’s Why Worldcoin in Price Discovery Mode Sees 24% Upswing Ahead

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

Also Read: Crypto Prices Today March 9: Bitcoin At $68K, Ethereum Nears $4K, PEPE Gains 20% As FLOKI Rallies 50%

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.