Bitcoin price plunges. The token fell below $104,000 while Worldcoin price maintained a significant upward trend. Additionally, volume surpassed $1 billion, suggesting increased interest in the token. Additionally, the token is the top trending altcoin ranking on social media platforms. With this, the token appears to be in the early stages of the market cycle and hence more bullish action is expected to follow soon.
Confidence in the token soared shortly after President Donald Trump announced an investment in AI, in partnership with OpenAI, Oracle and Softbank. Interestingly, OpenAI is building Worldcoin, which has made market participants bullish on the token. Worldcoin, both in the short and long term, is flying bullish flags that display the possibility of a clear breakout of the key support zone, which is likely to undergo a retest soon.
The recent price rally has helped the token surpass the descending wedge, which is a bullish event. However, the bears are working to limit the rally and hence the daily close has become more crucial. Considering the technicals, the DMI has just turned bullish, with the RSI triggering a bullish divergence and raising above-average levels. Additionally, volume has also increased, hinting at a potential breakout of over 25%.
It is now believed that WLD price will rise by over 25% and reach the resistance zone between $2.8 and $2.9 if the bulls manage to sustain the rally above the wedge resistance. This could pave the way for the price to rise above $3 and form a new ATH. Furthermore, if it fails to break through the levels, it could be rejected and possibly head towards the support below $2. However, market dynamics do not appear to favor the bears, so a bullish outlook remains in place.
