Worldcoin (WLD) has experienced a strong upward trend since the beginning of September, gaining significant momentum in the past 24 hours. The recent recovery of the altcoin has pushed its price to a five-month high, with WLD nearing the important psychological level of $4.
This positive price action is driven by new initiatives aimed at promoting growth and enhancing adoption, signaling that the altcoin may continue its upward trajectory.
Worldcoin approaches new areas
One of the key factors contributing to Worldcoin's rise is the positive divergence seen in the DAA price indicator (Daily Active Addresses). This is a strong buy signal, as the divergence indicates that more users are interacting with the platform, which often leads to higher demand and price increases.
Worldcoin has also launched the new World ID passport certification system in Chile, Colombia, Malaysia, and South Korea. This expansion has led to increased demand and greater user engagement, further driving the rally.
As the platform attracts more users and expands its utility, market sentiment around Worldcoin is becoming increasingly optimistic. As demand rises, the value of WLD is expected to continue to increase, creating further opportunities for both short-term and long-term investors.
Worldcoin price DAA Divergence. Source: Santiment
The macro momentum of Worldcoin looks promising, with active addresses currently at a six-month high. This increase in active participation indicates growing investor interest in the project. Increased activity and engagement on the network are often signs of rising demand, which is one of the key drivers of WLD's recent price increase.
The increase in active addresses also signals that Worldcoin is gaining traction within the cryptocurrency community. As more investors and users engage with the platform, the cryptocurrency is building a solid foundation for continued growth.
This participation is a direct response to the growing demand for Worldcoin services, particularly the World ID system, which has gained traction in new markets.
Worldcoin active addresses. Source: Santiment
WLD price prediction: Targeting higher
The price of Worldcoin has increased by 20% in the past 24 hours, surpassing the important support level of $3.36. This increase has pushed WLD to a five-month high, indicating a strong upward trend. With the support at $3.36 now holding, WLD has room to push higher, potentially reclaiming the $4.00 level.
Worldcoin's next target is the resistance level of $4.00, which could be crucial for its continued growth. If the price surpasses this level, it may signal a new bullish phase, attracting more investors and boosting confidence in the project. As adoption continues to grow, especially with the expansion of World ID, WLD could continue to rise, achieving new milestones.
Worldcoin price analysis. Source: TradingView
Looking ahead, if the current upward momentum continues, Worldcoin may see further gains in the coming weeks. The combination of increasing adoption and positive market sentiment suggests that the cryptocurrency is well-positioned for long-term growth.
However, if WLD loses the support at $3.36, it could drop to $2.78. Losing this support would completely invalidate the bullish argument.
