WLD Breaks a Major Barrier, Can It Set a New All-Time High?

The price of Worldcoin (WLD) surged over the last 24 hours of trading, according to the cryptocurrency market tracking website CoinMarketCap. At press time, the altcoin was up more than 53%, leaving it trading hands at $3.97.

Along with the surge in value, WLD also recorded a whopping 671% increase in its total trading volume during the past day of trading. This boosted the total volume to $912,047,817, which also ranked WLD’s trading volume as the eighth largest amount recorded in the market throughout the last 24 hours.

WLD’s price at press time does not tell the full story, as the altcoin was able to rise to a 24-hour high of $4.38. Despite correcting slightly from this high, WLD was still trading closer to this peak than its 24-hour low, which was situated at $2.57.

Daily chart for WLD/USDT (Source: TradingView)

Technical indicators on WLD’s daily chart were flagging extremely bullish at press time after the altcoin’s surge in price over the past 48 hours. This strong price movement also led to the cryptocurrency overcoming the $2.770 resistance level. As a result, WLD now has a clear path to potentially rise to $5.290 in the next few days.

A break above this level could then allow WLD to set a new all-time high (ATH). However, the extreme bullishness expressed by the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators may cool down in the next 48 hours.

At press time, the RSI line was well above the RSI Simple Moving Average (SMA) line, and indicated that WLD was in overbought territory. Similarly, the MACD line was positioned well above the MACD Signal line as well.

Should this bullish momentum subside, WLD’s price could fall to the recently-breached $2.770 level. Continued sell pressure could then drag WLD to as low as $2.065 in the following few days.