The Worldcoin price prediction suggests that the cryptocurrency is presently consolidating, with analysts anticipating a breakout. To trigger this breakout, WLD crypto must make a substantial upward move towards the upper trendline within the consolidation phase. However, it’s important to highlight that sellers have consistently been placing short bets against the WLD cryptocurrency market.
In addition to the consolidation phase and the potential breakout, it’s essential to consider the broader market sentiment and external factors that might influence WLD cryptocurrency’s trajectory. Factors like regulatory developments, macroeconomic conditions, and overall market trends can also play a significant role in determining whether WLD can break out of its consolidation phase.
Therefore, keeping a close eye on both internal and external factors is crucial for investors and traders looking to make informed decisions in the WLD cryptocurrency market.
Worldcoin price initially stood at $1.34938023 and showed a 6.71% increase in market capitalization over the course of the day’s trading session. However, there was a 54% decrease in trading volume intraday. This suggests the presence of sellers in the market, applying downward pressure on the WLD cryptocurrency. The volume-to-market capitalization ratio was recorded at 65.97%.
Will Worldcoin Price Break Out?
The Worldcoin price prediction indicates that the WLD cryptocurrency has been trading within a horizontal range on the daily chart, moving sideways. It’s noteworthy that the trading volume is currently below its typical levels and should ideally see an uptick during the day’s trading session. Prior to entering this consolidation phase, WLD crypto went through a period of volatility and uncertainty.
Meanwhile, WLD crypto is trading between 20 and 50-EMAs trying to break out of 50-EMA. WLD crypto price has been consolidating inside the horizontal price range of $0.97240234 and $1.51938017 over the daily time frame chart.
Technical indicators highlight the upside trend of Worldcoin crypto inside the consolidation phase. Relative strength index and moving average convergence divergence highlight the rise in momentum.
RSI was at 52 and is heading towards the overbought territory. The MACD line is above the signal line for WLD crypto’s growth. Investors in Worldcoin cryptocurrency need to wait until WLD crypto sustains at the upper threshold of the consolidation phase.
Summary
The Worldcoin price prediction suggests that the cryptocurrency is presently consolidating, with analysts anticipating a potential breakout. Factors like regulatory developments, macroeconomic conditions, and overall market trends can also play a significant role in determining whether WLD can break out of its consolidation phase. Prior to entering this consolidation phase, WLD crypto went through a period of volatility and uncertainty. Technical indicators indicate that Worldcoin crypto will enter an uptrend within the consolidation phase.
Technical Levels
- Support Levels: $1.17126885 and $0.97240234
- Resistance Levels: $1.51938017 and $1.73771189
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/09/18/worldcoin-price-prediction-whats-going-on-with-the-wld-coin/