Worldcoin Price Gains Ahead of $58M Unlock Event; Is $5 a Potential Peak?

Worldcoin (WLD) price has exhibited a strong upward trend recently. The momentum builds as the broader market experiences a surge. As token release events approach, Worldcoin’s value is poised for further increases. Notably, the cryptocurrency has appreciated by 20% over the last week.

Worldcoin Price Soars as Market Braces for Unlocks

From September 30 to October 6, 2024, the cryptocurrency market expects significant movements. A substantial $568 million in token unlocks across various projects is anticipated, with Worldcoin (WLD) highlighting the list. An estimated $58.07 million worth of WLD tokens will be released.

This considerable addition to the market supply might alter trading dynamics significantly in the forthcoming weeks. Notably, the last similar event occurred on July 24. Ahead of these token unlocks, Worldcoin’s value is projected to reach approximately $5

WLD Price Eyes 180% Surge Amid Positive Momentum

Over the past 24 hours, the Worldcoin price has seen a notable increase of 3.34%, indicating positive momentum in the market. At the time of writing, the WLD price stands at $1.74. Most of the crypto market today is trading in a sideways trend, indicating volatility in the market.

Within the same period, the price experienced a low of $1.66 and a high of $1.80, demonstrating significant fluctuations. The price movement chart shows a gradual climb throughout the day, with some minor dips, but overall, the token has shown resilience and a steady upward trend.

The Moving Average Convergence Divergence (MACD) indicator currently signals a potential positive shift. The MACD line (blue) recently moved above the signal line (orange), indicating a bullish crossover that could suggest an upward upward movement if the trend continues. 

According to Coinglass, the latest data analysis on Worldcoin (WLD) derivatives has shown a notable increase in market activities. Trading volumes have surged by 8.73%, reaching $773.77 million. 

Additionally, open interest has risen 1.68% to $163.49 million. This uptick in both volume and open interest could indicate growing investor interest and confidence in Worldcoin’s market dynamics.

Worldcoin price is currently experiencing an upward trend. If it remains above the crucial support level of $1.7, it may soon challenge the $2 resistance barrier. Maintaining this momentum could pave the way for the cryptocurrency to approach the next significant resistance level at $3. 

Ahead of the upcoming token release, the potential for a peak at $5 exists. This positive trajectory positions WLD for potential growth in the near term.