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The Crypto Basic 2024-11-25 10:18:58

Analyst Predicts Smooth Ride for WorldCoin: Is $4.53 Target Within Reach?

Analyst Predicts Smooth Ride for WorldCoin: Is $4.53 Target Within Reach?

Rising in a broadening wedge, WorldCoin (WLD) is preparing for a breakout rally as it exceeds $2.50. Will the uptrend reach $4.53? WorldCoin is one of the high-ranking altcoins in the Ethereum ecosystem. With a market cap of $1.778 billion, it ranks among the top 65 cryptocurrencies. Over the past 7 days, it has increased by 12.83%, with the trading volume exceeding its current market cap. With its 24-hour trading volume exceeding $1 billion, will this massive surge result in a parabolic jump in WorldCoin prices? Worldcoin Price AnalysisIn the daily chart, the WLD price action shows a recovery rally at play. With two diverging trendlines, the recovery rally forms a broadening wedge pattern. Despite multiple higher price rejections from its overhead resistance trendline, the recovery rally is going strong. Over the past six days, it has made consecutive bullish candles and has registered a growth of 23.14%. Worldcoin Price Chart The recovery rally streak of consecutive bullish candles started from the $2.12 support zone and the 100-day EMA. The price surge has surpassed the 200-day EMA line and is ready to challenge the resistance trendline. From the $1.28 bottom in September, Worldcoin has surged by 102% within 80 days. The increased bullish influence has resulted in a merger of the 50-day and 100-day EMA line, teasing a positive crossover. The MACD and signal lines maintain a positive alignment after avoiding the recent bearish crossover, supporting the bullish trend. Further, the rising positive histograms reveal this gradual surge in trend momentum. Analyst Predicts a Worldcoin Rally Free of Supply BarriersSupporting the bullish trend, crypto analyst Ali Martinez recently stated that WorldCoin faces “no significant supply barriers ahead.” Using the global in-and-out-of-money indicator, Martinez highlighted that 95.86% of the volume is “in the money,” suggesting minimal resistance for the WLD price.Therefore, the uptrend is likely to continue toward the $10 psychological mark. However, for the bull run to sustain, WorldCoin must maintain the $2.10 support level.Worldcoin Price Targets $2.95 Breakout Run To $4.53Based on the price action analysis, the uptrend is heading to challenge the resistance at $2.95. This level combines the rising resistance trendline and a previous swing high, marking a key supply zone. A breakout above this critical level could trigger a significant surge toward $4.53.On the other hand, should the bullish trend retrace, it may test the $2.53 support level or the 50-day EMA at $2.13.

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