Worldcoin (WLD) has been gaining significant traction in the crypto market, and many analysts are now forecasting a breakout that could push the token past the $3 mark sooner than anticipated. With a month-long bullish run under its belt, WLD has shown resilience and strong market sentiment that supports continued upward momentum. Here’s why this altcoin might be on the verge of a significant price surge.
Bullish Trajectory Continues
At press time, Worldcoin is navigating through a critical demand zone, signaling the potential for further gains. Despite a modest retracement of 2.38% in the last 24 hours, WLD’s performance over the past month has been impressive, boasting a total gain of 27.86%.
Such a sustained upward movement over an extended period, followed by a minor correction, is often a sign of market consolidation. This retracement phase suggests that WLD is not losing steam but instead gearing up for its next upward push.
Retracement Into a Key Demand Zone
WLD’s recent pullback has placed it into a significant demand zone. This zone, characterized by concentrated buy orders, indicates that investors are ready to accumulate more tokens at these levels. The support found here provides a strong foundation for the next leg up.
Should WLD surpass the lower high on its 4-hour chart, currently at $2.112, this would be a key confirmation that the demand zone is holding firm. From there, WLD could target mid-level resistance around $2.4, before eyeing the much-anticipated $3 mark.
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However, trading below this demand zone could jeopardize WLD’s upward trend, potentially causing a decline toward $1.511. That being said, with the current market sentiment and technical indicators in its favor, WLD appears unlikely to face such a downturn.
Technical Indicators Support Bullish Sentiment
Technical analysis supports the outlook for WLD’s continued bullish performance. According to AMBCrypto, key indicators such as the Chaikin Money Flow (CMF) and the Relative Strength Index (RSI) are both flashing bullish signals.
The CMF, which measures money flow volume over time, recently reversed its course and is trending upward after touching a historical support trend line. This suggests that liquidity is flowing into WLD, as traders and investors are growing more confident in the token’s future potential.
Similarly, the RSI, which assesses the strength and momentum of the market, has also pivoted upwards after returning to its support line. This reinforces the bullish narrative, indicating that buyers are currently in control and pushing WLD higher.
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Exchange NetFlow Data: A Bullish Sign
Further adding to the positive outlook, exchange netflow data from Coinglass shows that WLD has seen significant outflows over the last 24 hours and the past week. In the past day alone, $1.97 million worth of WLD has been withdrawn from exchanges, with a total of $7.71 million pulled over the last seven days.
This trend of large withdrawals signals that investors are opting to hold onto their WLD tokens rather than sell them on exchanges. This decreased supply on exchanges often contributes to price appreciation, as there are fewer tokens available for trading.
The Path to $3 and Beyond
Given the strength of the current demand zone, positive technical indicators, and growing investor confidence, the path to $3 seems increasingly likely for Worldcoin. If WLD can maintain its momentum and break through the $2.112 level, the token could see a rally toward $2.4, with $3 within reach.
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The critical resistance level that stands between WLD and its next major price milestone is $2.4, but once this level is breached, the door opens for even greater gains. Investors and traders should keep a close eye on these levels in the coming days, as they could signal the next major breakout.
Conclusion
Worldcoin’s recent performance has caught the attention of the crypto community, and all signs point to the possibility of WLD crossing the $3 threshold soon. The combination of strong market sentiment, technical indicators, and investor behavior suggests that WLD is in a prime position to continue its bullish trajectory. If the token can maintain its momentum and break key resistance levels, a rally past $3 may be closer than you think.