Worldcoin Potential “Golden Ticket” Unveiled as Analyst Predicts Major Breakout

Worldcoin price is showing signs of a significant turning point, with technical analysis indicating the possibility of a major breakout from a prolonged consolidation phase.

An analyst recently highlighted that the coin is trapped within a descending wedge pattern—a bullish indicator commonly signaling an imminent upside breakout.

This pattern, coupled with substantial market participation and price stability around the $1.07 level, suggests that Worldcoin could be preparing for an explosive upward move, making it a focal point for traders and investors watching for substantial gains.

Price Action Reflects Consolidation Near Key Support and Resistance

The price of Worldcoin has been forming a strong base around the $1.07 level after trading within a descending wedge since early 2024. This prolonged consolidation phase implies diminishing selling pressure and an asset coiling tightly for a breakout. Currently priced at approximately $1.08, the coin sits at the wedge’s apex, poised for a decisive move.

Source: X

Analyst 0xmik.Eth identifies critical resistance levels that could dictate the direction of the next trend. A break above $1.40 would represent the first confirmation of reversal from the consolidating pattern, while a surge past $1.65 is viewed as a game-changing breakout that might trigger significantly higher price targets, including $4.13 and $11.74.

These targets align closely with historical resistance and Fibonacci extension levels, emphasizing their importance in the crypto’s potential trajectory.

High Trading Volume Confirms Market Engagement and Support

On one hand, the recent price fluctuations have been accompanied by considerable trading volume, reinforcing the validity of Worldcoin’s movements. Over the past 24 hours, the trading volume has exceeded $188 million, illustrating significant market participation during periods of price dips and recoveries.

Source: BraveNewCoin

This volume surge coincided with a sharp morning decline followed by a rebound back to support levels near $1.07, demonstrating active buying interest that prevented further downside.

The strong demand at lower prices underpins a resilient foundation for the asset, suggesting that traders are accumulating Worldcoin in anticipation of a breakout rather than capitulating to bearish sentiment.

Technical Indicators Suggest a Market Correction and Reversal

On the other hand, Worldcoin’s daily chart reveals a short-term correction with the price currently positioned just below the mid-Bollinger Band, serving as resistance during the recent pullback. The coin experienced a rally to the upper Bollinger Band in late July but has since corrected downward, indicating sellers have regained some control in the near term.

The Relative Strength Index (RSI) stands near the neutral 50 mark at 50.51, with the RSI line crossing above its moving average, potentially signaling the early stages of a bullish reversal.

Source: TradingView

While the RSI recently retreated from overbought levels, highlighting the fading of previous bullish momentum, the crossover may reflect a tentative attempt to regain upward pressure. To confirm a sustained reversal, traders would look for a decisive break above the mid-Bollinger Band resistance.

Market participants should watch closely for a breakout above $1.40 and especially beyond $1.65, which analysts view as the gateway to a major price rally. Until then, the short-term outlook includes a balance of cautious optimism and the potential for continued price volatility.

Those holding the asset may see this phase as an accumulation opportunity ahead of a possible “golden ticket” event, driving significant gains.