Here’s Why Worldcoin in Price Discovery Mode Sees 24% Upswing Ahead

The forthcoming Nvidia 2024 GTC Conference and the anticipated reveal of OpenAI’s newest generative AI model, GPT 5, have spurred a notable surge in the cryptocurrency market, particularly boosting tokens associated with Artificial Intelligence. Amid this enthusiasm, the Worldcoin price surged past the crucial $10 mark and set a new all-time high of $11.02 on Saturday. Moreover, the price surge indicates a breakout pattern in the daily chart, suggesting a prime opportunity for traders waiting on the sidelines to make their move. 

Also Read: Sam Altman’s Worldcoin Faces Roadblock In Spain, WLD Price Dips 12%

Flag Pattern Signals Continued Upward Momentum

The WLD coin re-entered the recovery trend in mid-week when the price rebounded from the $5.6 support. This dramatic pivot resulted in a 92% surge in Worldcoin, solidifying its bullish dominance with a milestone at $10. 

Significantly, WLD’s price movement reveals a bullish breakout from a flag pattern on the daily chart, indicative of a continuation in the upward trend. The successful breach above the bullish flag pattern hints at an extended bullish phase for investors.

Presently, WLD price is trading at $10.76, marking a 43% increase within a single day, highlighted by a large engulfing candlestick pattern. This substantial rise, coupled with a spike in trading volume, has propelled the coin to a new all-time high, underscoring the strength of the uptrend.

The market pundit hints the sudden upswing is also linked to Sam Altman’s return to the OpenAI board following a short and contentious absence.

New additions to our board: Dr. Sue Desmond-Hellmann, Nicole Seligman, and Fidji Simo; Sam Altman will also rejoinhttps://t.co/6TS1C4etjr

— OpenAI (@OpenAI) March 8, 2024

Also Read: Crypto Prices Today March 9: Bitcoin At $68K, Ethereum Nears $4K, PEPE Gains 20% As FLOKI Rallies 50%

Is the Worldcoin Price Heading to $12?

With the bullish breakout rally, the pivot points project strong targets on the upside. With the next target at $13.25, the WLD price is on a rally and puts an upside potential of 24%. However, a potential retest of the supply line breakout can result in a pullback to $9.4. 

• Pivot Levels: The traditional pivot level marks the immediate resistance of the WLD price at $13.65 and $17.8
• Average Directional Index: The ADX slope, standing at 44%, indicates strong bullish momentum which could be nearing its peak of intensity.

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Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.