Worldcoin (WLD) on the Rise: Is This the Start of a New Rally?

• Worldcoin (WLD) shows bullish momentum, trading above key support levels.
• Technical indicators suggest a potential breakout, signaling further gains.
• Breaking resistance could drive WLD higher, but caution is advised below $2.299.

Worldcoin (WLD) has been climbing the charts lately, showing signs of potential growth. While the token hasn’t yet gained significant attention, recent movements suggest something significant could be on the horizon.

According to the post below, WLD is up 67% in the last 4 weeks, hitting a 2-month high and trading above $2. Additionally, technical indicators are flashing bullish signals, hinting at a potential breakout.

Worldcoin (WLD) is back with a bang this October! 🚀📈

Up 67% in the last 4 weeks, hitting a 2-month high and trading above $2.

Could we see another bullish run? At $2.47 now, things are looking spicy! 🔥 pic.twitter.com/s1ZSvrPugr

— Professor Crypto (@profcryptotalks) October 19, 2024

Technical Analysis: Bullish Signs Emerging

WLD is currently trading at $2.44, showing recovery after a dip earlier this month. The token has moved above the 7-period simple moving average (SMA) at $2.363, which offers hope for short-term traders.

More importantly, WLD has surpassed the 25-period SMA, now sitting at $2.269. This movement suggests that bullish momentum could be building. The 99-period SMA, positioned at $2.299, provides solid support.

If WLD remains above this level, the path forward could lead to more gains. But a drop below $2.299 might signal a test of lower supports around $2.200, which would weaken the bullish case.

Key Support and Resistance Levels

WLD faces resistance around $2.400. Breaking this level (already happened) could pave the way to $2.500, and a further rise could lead to a critical resistance zone at $2.6. A breakthrough at $2.600 would likely fuel a stronger rally, potentially reaching $2.800 or higher.

On the downside, support sits at $2.300, aligning with the 99-period SMA. If WLD falls below this, a pullback to $2.200 or even $2.100 might follow. A dip under these levels could indicate a deeper correction, so traders should proceed with caution.

Recent sentiment around Worldcoin (WLD) has been promising, partly driven by Bitcoin’s surge and Binance listing. Bitcoin’s continued rise could lift WLD and other altcoins. Conversely, a downturn might pressure WLD’s recent gains.

Worldcoin’s unique approach, blending biometric technology with DeFi, is gaining attention. This vision has sparked both excitement and skepticism in the crypto community. If Worldcoin builds on the current momentum, a new rally might be just beginning.

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