Will WLD continue to rise in the future?
Earlier, the market sentiment strengthened, pushing Worldcoin (WLD) up by more than 8%. Currently, WLD is trading at $2.34, up more than 8.27% from the same period of the previous trading day.
This price increase coincides with a major development from the Worldcoin team. On July 24, the WLD community witnessed the start of the main token unlock. The Tools for Humanity (TFH) team was responsible for organizing the event. According to the official release, people with a legitimate World ID will receive the majority of WLD tokens
The team revealed that they will receive these tokens to recognize that they are special people. They also revealed that by utilizing this technology, about 6 million different people have interacted with the Worldcoin network. The unlocking event has been launched by the team and will be carried out linearly every day.
Currently, market participants expect the price of Worldcoin to rise by 228.37% to $7.63 in the next month. Technical indicators suggest that sentiment towards the coin is currently bearish, with the Fear & Greed Index currently at 68 (Greed).
If the coin continues to trade under bullish signals, it will likely maintain its upward trajectory. Alternatively, if the bearish signals persist, the coin could see a decline in the future. Investors will be keeping a close eye on the developments of the coin as the entire cryptocurrency market takes a cautious stance.
In the past 30 days, Worldcoin has seen 13/30 (43%) trading days rise, with a price volatility of 15.85%. The data also suggests that the Worldcoin price prediction is overall bearish, with 23 technical analysis indicators showing bearish signals and 1 showing a bullish signal.
Worldcoin’s 200-day simple moving average (SMA) will rise to $4.90 by August 25, 2024. Worldcoin’s short-term 50-day SMA is expected to reach $3.81 during the same period. The momentum oscillator, known as the Relative Strength Index (RSI), is a widely used indicator that indicates when a cryptocurrency is overbought (above 70) or oversold (below 30). Currently, the WLD market is in a neutral state with an RSI reading of 43.03.
