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- WLD crypto recorded a strong surge of over 40% this week.
- It was edging close to a five-month breakout and looks bullish.
Worldcoin (WLD) price has yet to break out the five-month highest trajectory this week. Amidst strong buying momentum, WLD crypto faced 200-day EMA resistance. It saw a retracement of over 8% in the last 24 hours.
Since October 2024, WLD crypto has traded positively and noted a massive spike of over 60% in the last 15 days. The recent price resurgence above the $2 mark implies buyer accumulation. WLD crypto regained traction and comfortably rests above the 100-day EMA mark.
Still, the buyers were eyeing to trigger a breakout above $2.50 for an extended rally. The bullish activity surrounding WLD crypto has risen over the last weeks. Alongside the price rise, heightened trading volume depicted the bullish optimism among the investors.
Last week, the Worldcoin price escaped the trendline barrier of the falling wedge and enlisted a breakout. Afterward, the altcoin revisited the 200-day EMA mark but failed to crack it.
Can Worldcoin (WLD) Price Strike Above the 200-day EMA Hurdle?
Worldcoin (WLD) price has crossed a crucial pivot of $2 this month and was set for a massive breakout soon. At press time, WLD crypto traded at $2.33 with an intraday drop of over 7.20%.
For the past few weeks, it has fluctuated in a tight range between $1.40-$2.00. After the horizontal neckline breakout, the bulls wanted to stretch the bullish move beyond the 200-day EMA mark.
In a recent tweet on X, Degen Maverick said that the WLD price bounced off from the support zone and looks bullish on the chart. A massive upswing toward $4.80 could be seen in the near sessions.
The Relative Strength Index (RSI) line stayed in the overbought zone, revealing bullish cues. It reflected a bullish divergence and suggested a significant upswing on the cards.
Similarly, the Money Flow Index (MFI) reading showed a vertical spike, around 75. Generally, readings above 50 tell about significant liquidity entering the market, hence a bullish sign.
Likewise, the Moving Average Convergence Divergence (MACD) indicator plotted green histogram readings. It represented bullish observations and implies the bulls’ dominance.
Per the price action, WLD crypto was aiming for a successful close above the $2.50 mark for an extended bullish surge.
Worldcoin Catches Grayscale’s Attention: What Could This Mean?
Grayscale, a leading digital asset manager, added WLD to the list of 35 potential crypto products it provides. The signal evidences the fact that WLD is getting more attention. The indication is that the Grayscale is willing to consider WLD for future investment.
In that case, Grayscale seeks to add WLD crypto to one of its investment products. There might be increased institutional interest in the token. This can fuel further price surges for altcoin.
Also, the latest release of World Chain on October 11 positively impacts the market. Currently, the network consists of 1200 accounts by the time of launching. It will increase even more, creating additional service demand and, thus, WLD tokens.
Thus, demand and the Worldcoin (WLD) price may increase. This can happen if WLD gets onto the list of official tokens to pay gas fees on the World Chain.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
