Worldcoin (WLD) price has rapidly increased since the beginning of February and today reached an all-time high price of $8.48. WLD price has already recovered all its losses after the dip on February 21st. How much longer will this upward movement continue? Let’s take a closer look.
Daily WLD Chart Analysis
The daily chart analysis shows that WLD is in a parabolic upward movement. In the past 11 days, ten bullish daily candlesticks have formed, coinciding with the launch of OpenAI’s Text-to-Video product Sora.
On February 19th, the WLD price broke out from the rising resistance trend line. It confirmed this as support during the dip on February 21st, and the upward trend has been notable. This upward movement has led WLD to reach its all-time high level of $8.48 today.
On social media platform X, cryptocurrency investors and analysts view the future WLD trend positively. Cryptocurrency investor Nihilus_XBT, noted a short-term breakout from the decreasing resistance trend line and shared this development with his followers.
What’s Expected for WLD?
Wave counting on the daily timeframe suggests that the WLD price will continue to rise. Technical analysts prefer to use the Elliott Wave theory to determine the direction of the trend by examining recurring long-term price patterns and investor psychology. The most likely count indicates that WLD is in the third wave of a five-wave upward movement (white).
So far, the third wave has been approximately 2.61 times the length of the first wave. Therefore, WLD is approaching the first resistance level at $9.15, which is a potential temporary peak area. If WLD breaks above the $9.15 resistance, it could rise by another 40% and reach the next resistance at $11.85. This would give the third wave a length of 3.61 times that of the first wave. Despite this bullish WLD price prediction, a rejection from the $9.15 region could trigger a 22% drop to the nearest Fib support at $6.45.
