74% Price Blast: Will Worldcoin (WLD) Reach Unforeseen Heights or Face a Reality Check?

• Worldcoin price rockets 74%, reaching the $2 mark.
• $WLD’s trading volume has exploded by over 245%.

The crypto assets woke up to the bear roar, and later, with a modest spike, a rising tide of green has briefly lifted all the tokens. With the Fear and Greed Index value holding at 44, the broader market sentiment is neutral. All the major assets are seeking to go up, including BTC and ETH.

Among the digital assets, Worldcoin ($WLD) has chosen to move up, displaying the strongest uptrend, exploding by over 74.53%. In the morning hours, $WLD traded at a bottom level of $1.22. Gradually, the asset’s resilient bullish pressure has driven the price to a peak of $2.14.

Besides, Worldcoin has tested and broken the pivotal resistance between $1.28 and $2.08 zones to confirm the potential breakout. According to the CMC data, at the time of writing, Worldcoin traded at around the $2.09 range, with a market cap of $4.20 billion.

In addition, the asset’s daily trading volume has skyrocketed by over 245%, reaching the $4.30 billion threshold. As reported by the Coinglass data, the market has experienced an event of $31.27 million worth of Worldcoin liquidation in the last 24 hours.

Is Worldcoin’s Bull Run Sustainable?

Worldcoin’s technical chart analysis reports that the Moving Average Convergence Divergence (MACD) line has crossed above the signal line. This crossover indicates that the upward momentum is building in the market, and it is considered a potential entry point for long positions.

$WLD chart (Source: TradingView)

Moreover, the Chaikin Money Flow (CMF) indicator of $WLD is located at 0.24, suggesting a strong bullish signal. Notably, the buying pressure is dominating, with a significant amount of capital flowing into the asset. The value that is closer to +1, the stronger the buying strength.

The asset’s four-hour pricing graph clearly shows the ongoing bullish correction, and the price could climb to its resistance at around the $2.16 level. However, with further gains, the bulls might call out the golden cross to unfold and push the Worldcoin price above the $2.23 mark.

Assuming a bearish shift in the ongoing momentum, it could lead the Worldcoin price to slip toward the $2.02 range. An extended downside correction might potentially trigger the death cross to take place, and the bears would send the asset’s price to fall below the $1.95 zone.

$WLD chart (Source: TradingView)

The current market sentiment of $WLD is found deep in the overbought territory, as the daily Relative Strength Index (RSI) is settled at 95.84. The extremely high value signals the possibility of a pullback or correction. Worldcoin’s Bull Bear Power (BBP) reading of 1.084 is pointing to the fact that the bulls are currently dominant. The higher value may bring on the signs of exhaustion.

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