Key facts:
If WLD continues to rise, it would find new resistance near $2.20.
WLD is 80% below its all-time high price.
The price of the Worldcoin (WLD) token broke what has been a historical resistance: the psychological barrier of $2.
As can be seen in the chart below, WLD has not exceeded that mark (horizontal red line) since the beginning of August:
The surge comes amid a general bull market for altcoins. As can be seen on price trackers (e.g. CoinGecko or CoinMarketcap) there are dozens of cryptocurrencies and tokens with numbers in the green at the time of writing.
According to the theory of support and resistance (which can be read in Criptopedia, the educational section of CriptoNoticias) the fact that it has broken the historic barrier of 2 dollars is a good thing for WLD. Now, there is a high probability that this price will begin to act as support and WLD will go to new heights.
According to this same theory, WLD would again find strong resistance near $2.20 and, if it managed to overcome it, could head towards $3 without too much trouble.
What is Worldcoin?
Worldcoin is a project launched by Sam Altman, CEO of OpenAI, which seeks to create a global digital identity network.
The heart of the project is its native token, WLD, which is distributed to people who sign up for the identity protocol using a device called OrbThis device scans the user’s iris to generate a “proof of humanity,” ensuring that each registered individual is a real person, rather than a bot or fake identity.
Worldcoin claims that its goal is Offer a solution to the challenges that arise with digital identity in an increasingly interconnected world. The idea is that by verifying identity in a decentralized and cryptographic way, more inclusive financial systems can be enabled, privacy can be protected and the proliferation of fake accounts on digital platforms can be avoided. In addition, users receive compensation in WLD for participating, which has generated great interest, particularly in developing countries.
However, the project has not been exempt from criticism. One of the most controversial points is the use of iris scanning as an identification method. As CriptoNoticias has detailed, This type of biometric data collection has associated risks.Although Worldcoin claims that data is processed securely and that no raw iris images are stored, skeptics warn of potential abuses in the handling of this sensitive information.
