Worldcoin (WLD) has experienced a notable surge, jumping 22% in value over the last 24 hours. This upswing has brought the token to an exciting threshold, raising speculation about its potential to break through significant resistance levels. With heightened trading volumes and increasing user adoption, the future may hold further gains for WLD.
Whales Making Bold Moves
Significant interest from large investors is driving the recent uptrend in WLD. Data from Santiment indicates that whale wallets have accumulated around 310,000 WLD in the past 24 hours, boosting their overall balances by 4.5%. This kind of accumulation frequently sparks retail demand, creating momentum that supports longer-term recoveries.
This renewed whale interest comes shortly after Worldcoin announced its multi-party computation initiative, which aims to enhance its biometric verification system by offering stronger privacy protection and quantum resistance. This development has been seen as a step toward addressing some of the project’s most significant controversies and could redirect considerable investment back into the token.
Positive Adoption Metrics for Worldcoin
The rally in WLD is not only attributed to whale activity. Adoption figures show consistent growth, bolstering bullish sentiments surrounding the token. More than 238,000 new users have verified their identities on the network in the past week, while the World App has gained an impressive 456,000 new users, bringing the total user count to nearly 34 million.
Transaction activity remains robust, with the project processing 15.7 million transactions in just seven days, averaging around 2 million transactions per day. This level of user engagement counters the notion that WLD’s movements are purely speculative.
Additionally, partnerships with companies like Razer and Match Group have elevated Worldcoin’s visibility, even as regulators continue to scrutinize the project.
WLD Price Forecast
WLD’s price has recently broken through a descending wedge pattern on the daily chart, while a larger cup-and-handle pattern has been developing since May. These patterns are typically viewed as bullish continuation signals.
The token has surpassed the 38.2% Fibonacci retracement level at $1.106, and if it closes above this level, the next target is approximately $1.21. This area coincides with the 50% retracement level, which could serve as a launching pad for testing the more critical resistance levels around $1.40 to $1.50.
Momentum indicators support this upward movement. The MACD has shown a bullish crossover, and the RSI has climbed to 57, indicating strong buying pressure without yet entering extreme overbought territory. A decisive break above $1.40 could pave the way for a rally towards $2.04 in the coming weeks.
Risks on the Horizon
While technical analysis suggests that the altcoin is positioned for further gains, there are risks to consider. The circulating supply has increased by nearly 20% since May, which may exert ongoing selling pressure and limit price gains. Furthermore, cash trading volumes have been volatile, with a significant drop in the past month, even as open interest in derivatives has risen—potentially fueling sudden reversals.
Regulatory scrutiny remains a crucial factor. In August, Chinese authorities issued warnings regarding biometric data, while European regulators continue their investigations into privacy risks associated with the project. Increased pressure from oversight bodies could hinder adoption and negatively impact investor sentiment, even if charts remain constructive.
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