Huge increase: WLD price rose to the $10 mark in the short term
The cryptocurrency market saw a sharp upward trend in valuations yesterday, with major altcoins seeing significant increases in their valuations. Among them, the price of Worldcoin has increased by approximately 40% in the past 24 hours, making it one of the largest gains in the cryptocurrency field on the day.
Price breaks out of closed range: Bulls gain momentum again
WLD price briefly traded within a closed range between $2.144 and $2.670 before bulls gained momentum and the price broke out of the range. However, the rally was short-lived as it was rejected at $3.273, after which the price traded sideways for some time.
Bulls are back on the rise: Prices are rising again
As market volatility increased, the bulls regained momentum and rallied by another 53.40% in the next two days. After a period of sideways movement, the WLD token valuation rose by another 55.129%. However, WLD was rejected at $7.789, after which the price traded in a comprehensive range between $6.291 and $7.789 for the next three days. Recently, the bulls managed to break above the resistance but encountered a rejection at $8.831 and have been trading sideways since then.
Technical indicators outlook: Bullish momentum is bullish
The Moving Average Convergence Divergence (MACD) shows rising green histograms, indicating an increase in buying pressure in the market. Moreover, the averages show a bullish convergence, suggesting that the WLD coin will see positive price action in the coming days.
Future Outlook: Bullish Forces Are Crucial
How high will the WLD price go? If the market pushes the price above the $8.831 mark, the bulls will regain momentum and be ready to test the overhead resistance at $10 during the weekend. Conversely, if the bears overwhelm the bulls, the WLD price will lose momentum and fall to test the $7.789 support. Moreover, if the bears continue to dominate the market, it will plunge further and be ready to test its lower limit at $6.291 in the next month.