Worldcoin (WLD) recovers prices not seen since July 2024.
The token is 80% below its all-time high price, reached in March of this year.
Worldcoin (WLD), the token of the eponymous decentralized digital identity protocol, strongly surpassed the $2 mark.
This is not just another price but, if you look at the historical graph of its price, you can see that has been a strong support and resistance level at various points in its history (yellow horizontal line in the image below).
As explained in Cryptopedia (which is the educational section of CriptoNoticias), levels that once acted as a support or resistance zone tend to be “chronic.” That is, the price of the asset, due to market psychology, tends to sideways or bounce around those prices again and again.
For this reason, exceeding the $2 mark can be considered good news for those who have bullish expectations with the WLD token.
If WLD continues its bullish course, due to the aforementioned theory of supports and resistances, I would find a new brake around $3, or $3.30as can be seen in the graph above.
The current rise in WLD can be explained, mainly, by the good performance of bitcoin which, as reported by CriptoNoticias this morning, is trading above $64,000. Besides, There is a lot of expectation that October will be a bullish month for cryptocurrenciesas it has mostly been in the last decade.
According to the prediction of the trader who identifies himself on social networks as cryptoknight890, WLD could go above $5 this year.
something similar think who identifies himself in internet forums as ElonTrades. This analyst explains that The rise of Worldcoin is also due to fundamental factors: «They have just announced that they plan to incorporate 700 million users. Sam Altman, co-founder of Worldcoin and OpenAI will speak in San Francisco to provide important updates on the project on October 17. This is not an overrated project. It’s a very early entry. Good for 5-10x».
It is worth clarifying that, just as these two analysts are optimistic, there are others who are bearish in the long term. The trader who communicates on social networks under the pseudonym “DefiSquared” has explained that, in his opinion, Worldcoin is designed to benefit its creators and early investors, but that the token will tend to depreciate over time.
At the moment, WLD is trading 80% below its all-time high price of $11.82 reached on March 9, 2024.
