Price Analysis

This Altcoin is at the Foothill of a Major Explosion: May Soar 80% If Surges Above This Crucial Resistance

In times when bearish clouds are hovering over the crypto markets, Worldcoin (WLD) is displaying significant strength. The price has bottomed and seems to be preparing for a huge bullish move, which may uplift the token above the bearish influence. Meanwhile, the bearish possibility may persist while the dominance continues to be in their favour. Regardless of this, the WLD price is expected to surge over 30% in July, which may pave the way for another 50% jump by the end of Q3 2024. 

With a rise of over 110% in volume in the past 24 hours, Worldcoin has managed to beat the bearish pressure that has haunted the crypto space since the start of the month. The price soared heavily as soon as Open AI announced Sora, which uplifted the entire AI space. Unfortunately, after securing a double-digit figure, the price dropped by over 80%. However, the bearish hold over the token seems to have faded as the price is ready for a fresh bullish move. 

The WLD price appears to have reached the bottom of the mountain, as all the profits have been squeezed. The Bulls have been trying hard to reclaim their dominance by maintaining a decent grip over the token since the beginning of the month. Meanwhile, the RSI has formed a double-bottom pattern, which suggests a fair reversal is on the horizon. However, the DMI suggests the price may remain consolidated as the levels require time for a bullish crossover. 

The ADX, which describes the strength of the rally, has reached the upper threshold, indicating a potential pullback, supporting the continuation of an accumulation phase. As the trade approaches the end of the month, the Worldcon (WLD) price is expected to step away from accumulation as fresh liquidity is expected to kick into the platform. This could trigger a fresh ascending move, paving the way for an uninterrupted upswing of 0.38 FIB, surpassing 0.23 FIB to reach above $5 in the next few weeks. 

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