đ„ Can Worldcoin (#WLD ) Break Resistance After Recent Market Rally?
Worldcoin (WLD) is currently trading at $1.68, marking a 5.93% increase in the last 24 hours, driven by improving market sentiment. The recent price movement followed a bounce from the previous support at $1.475, suggesting renewed bullish momentum. The broader market has responded positively to a 50 basis point (bps) rate cut announcement, which has sparked optimism across risk assets, including WLD.
WLD is currently positioned in a favorable technical environment. With strong resistance at $1.849 and the potential to test $1.990 if the momentum continues. However, market volatility remains a key factor, and traders should monitor how WLD responds to broader market trends and developments.
WLDâs market cap has risen 6.62%, reaching $777 million. The trading volume has surged by 86.74% to $171.6 million, pointing to growing interest from investors. With a market cap ratio of 22.02%, Worldcoin shows strong liquidity, which is crucial for maintaining upward momentum.
Key resistance levels for WLD are observed at $1.849 and $1.990, while the immediate support level remains at $1.475. Technically, WLDâs Relative Strength Index (RSI) is at 57.70, higher than the average RSI of 50.07, indicating a potential bullish trend. The tokenâs moving average of $1.559 further supports the notion of an upward trajectory in the short term.
đž Recent Developments Driving WLD
Worldcoin has recently made significant strides, including the introduction of its facial recognition system on Sep 20 , âFace Authâ. It aims to enhance security for users of its World App. This innovation has led to a 7% increase in WLDâs price. This technology offers improved fraud detection for users on decentralized platforms.â
Additionally, Worldcoinâs expansion into Poland with its World ID system has driven market interest, as it allows users to verify their identity in a privacy-preserving way. This integration has positively impacted WLDâs price.
