📢LET'S TALK ABOUT WLD TOKEN PRICE PREDICTION AND TECHNICAL ANALYSIS
The price of Worldcoin (WLD) has experienced a notable surge, marking a remarkable 17% increase over the last 24 hours, according to CoinMarketCap data.
As of the latest data, WLD is valued at $5.26, although it had briefly attempted to reach $5.50 before undergoing a slight retreat.
This surge is particularly noteworthy as it occurred during a period of general market downturn for many cryptocurrencies.
Coin Edition, however, has identified a key catalyst for this surge – on February 17, Worldcoin announced via its official channels that the World App has surpassed 1 million daily users.
The World App serves as the local wallet for the Worldcoin project and is designed to offer digital identity and global financial services to its user base.
This milestone suggests a remarkable level of project adoption, resulting in increased demand for SAI.
From a technical standpoint, WLD successfully surpassed the $4.55 resistance level. Insights from the Exponential Moving Average (EMA) indicate a bullish short-term outlook for the token.
At the time of reporting, the 9 EMA (blue) stands at $4.83, while the 20 EMA (yellow) is at $4.33. The crossing of the 9 EMA above the 20 EMA signals an upward trend for WLD.
Furthermore, the token's price has exceeded both EMAs, affirming that buyers currently dominate the market.
If WLD maintains its position above the EMAs, there is potential for a price retest at $5.50. However, a word of caution is given for short-term profit-taking scenarios, where the World Bank might close below $4.83, possibly triggering a 10% correction for the cryptocurrency.
Considering a bearish perspective, there is a downside risk with the potential for WLD to fall to $4.17. Conversely, if bullish momentum persists, the price could see an upward movement towards $6.
