Based on the information available up to October 4, 2024, there are several reasons why WLD (Worldcoin) might be considered bullish:
Technical Analysis and Market Sentiment: Recent analyses suggest that WLD has shown strong bullish signals. For instance, there's mention of a bullish divergence on the 4-hour chart, where the price action showed lower lows but the Relative Strength Index (RSI) indicated higher lows, often a precursor to a bullish reversal or at least a short-term rally. Additionally, comments on platforms like X (formerly Twitter) indicate a positive sentiment, with users discussing bullish setups and price targets, reinforcing the idea of an upward trend momentum.
Expansion and Adoption: Worldcoin has been expanding its operations, notably with its World ID verification service in Europe. Such expansions can lead to increased adoption rates, which typically supports a positive price movement. The mention of surpassing 1 million World App wallet users also underscores growing adoption, which often propels token value.
Institutional and Strategic Moves: There was mention of significant token accumulation by a wallet address from Binance, suggesting strategic buying which could be interpreted as a bullish sign. Additionally, any news or rumors related to major companies or figures like Sam Altman (co-founder of Worldcoin) involving Worldcoin or its technology, such as the mention of OpenAI's board actions, could boost investor confidence.
Market Dynamics and Speculation: The crypto market often moves on speculation. News, like the anticipation of a Bitcoin halving or discussions around an Ethereum ETF, can create a bullish crypto market sentiment in general, which might buoy other cryptocurrencies like WLD by association or through general market euphoria.
Fundamental Developments: The project's aim to solve identity verification online with its unique approach using iris biometrics adds a layer of utility that could be increasingly valued as privacy and identity become more significant issues online. This fundamental value proposition, if recognized and adopted, could naturally lead to a bullish scenario for WLD.
Price Analysis: There have been clear price targets discussed in various analyses, indicating expectations of upward movements. For instance, mentions of price breakout from descending channels or other formations suggest that traders and analysts are looking for WLD to hit higher price points soon.