These two cryptocurrencies have risen significantly in recent times and have recently hit all-time highs. We understand how long they can continue to grow
Worldcoin (WLD) has been growing for eight days in a row, and BEAM - three. We understand how long these two cryptocurrencies can continue their current growth.
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WLD grows in a parabola
The price of WLD has been on a parabola since the breakout of the descending resistance line on February 7. On February 12, the upward movement became parabolic, and the price increased by more than 200%.
Today, WLD hit a new all-time high of $7.67. If the token maintains its bullish momentum, it will form the eighth bullish daily candlestick in a row. The high was set above the 1.61 Fibonacci retracement level at $6.45.
Elliott wave analysis predicts that WLD will continue to rise. According to the most likely scenario, the price is in the third wave of a five-wave uptrend.
If it continues, WLD could rise another 22% and reach the next resistance at $9.15.
З іншого боку, денне закриття нижче 6,45 доларів означатиме, що локальний максимум вже досягнуто. Це може призвести до 35-відсоткового падіння WLD до найближчого рівня підтримки на 4,90 доларів.
BEAM is out of range
Similar to WLD, on February 8, BEAM price broke through the descending resistance line and has been on a parabolic rise since then. The token broke through the $0.26 zone and confirmed it as support (green icon), and today it renewed its all-time high at $0.035.
Popular cryptocurrency analyst InmortalCrypto noted that the bullish breakout saw his BEAM position gain more than 80%.
The daily relative strength index (RSI) supports growth. It is above the neutral 50 mark and rising, which is a sign of a bullish trend.
BEAM has almost reached the nearest resistance at $0.037, formed by the 1.61 Fibo level of the previous downward retracement. A break above it could trigger a 50 percent rally to the next resistance at $0.052.
Despite the bullish outlook, BEAM's bounce from the $0.036 resistance could lead to a 20% drop to the nearest $0.26 support level.
