Can WLD Price Hit $5?
Worldcoin (WLD) has had a strong week with a 33% price increase. If the cryptocurrency market conditions remain the same, WLD is expected to rise further in the coming days with a target price of $5.
However, despite the bullish signals from on-chain indicators, recent events in the Worldcoin and OpenAI space may also have an impact on the price of WLD.
Worldcoin Price and On-Chain Metrics
Following OpenAI’s announcement of a shift in business model, Worldcoin’s price has risen 17% in the past 24 hours and is currently trading at $2.12.
The market speculated that this change could help WLD's price rise due to the leadership of Worldcoin founder Sam Altman. However, South Korean authorities fined Worldcoin about $830,000 for possible data privacy violations. The fine did not affect the market's bullish sentiment, and on-chain indicators still show that Worldcoin prices have the potential to continue to rise.
Worldcoin’s social dominance has reached a three-month high, indicating increased market attention to WLD, more positive community engagement, and market sentiment.
In addition, the difference between Worldcoin’s price and daily active addresses (DAA) increased, indicating growth in user activity. The simultaneous rise in price and DAA is usually a signal that the market is optimistic about the asset, further reinforcing expectations that WLD’s price may continue to rise.
Price Analysis: Can WLD Reach $5?
The chart shows that Worldcoin’s price has formed a double bottom pattern, which is a bullish reversal signal that indicates that the price has the potential to rise further. WLD has broken through the neckline, confirming the possibility of an upward trend.
However, the recent continuous surge currently has a high probability of a correction risk⚠️
The key support levels are $1.80 and $1.50, while the resistance levels are between $2.50 and $3.20.
If WLD can successfully break through these resistance levels, the price could further reach $5.00.
Despite the setbacks regarding data privacy, Worldcoin continues to show strong upside potential. Bullish signals from on-chain indicators, increased user activity, and positive market sentiment suggest that WLD could continue to rise in the coming days, even to higher price levels.
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The above content is for reference only and does not constitute investment advice.
