$WLD is trading around $1.52 - $1.55 USD. This reflects a substantial increase of approximately 20-24% in the last 24 hours and an impressive gain of over 70-90% in the last 30 days, building on a significant rally since early May.
Detailed Price Analysis:
Worldcoin ($WLD) is currently experiencing a strong bullish surge, fueled by positive news and renewed investor interest, despite facing previous regulatory headwinds.
Recent Price Action: WLD has shown significant upward momentum, breaking out of a descending triangle and a rising wedge pattern, often signaling bullish reversals when broken upwards. The price has rallied strongly from its lows in late April/early May, indicating a shift in market sentiment. While it's up significantly, it's still trading considerably below its all-time high of approximately $11.82 (recorded in March 2024).
Key Catalysts: A major driver for this recent rally appears to be the news of $135 million in fresh funding for the World Foundation, led by a16z and Bain Capital Crypto. This wasn't a traditional venture round but a direct purchase of non-discounted liquid WLD tokens, which has directly increased the circulating supply and boosted price momentum. This demonstrates strong institutional backing and adds credibility to the project.
Technical Indicators:
Moving Averages: WLD has recently reclaimed crucial moving averages, such as the 50-day Simple Moving Average (SMA) and the 200-day Exponential Moving Average (EMA), flipping them into support. This is a strong bullish signal, suggesting that the short-to-medium term trend has shifted upwards. While the 200-day SMA on the daily timeframe is still sloping down, the price is currently above it, indicating a potential longer-term trend reversal if sustained.
RSI (Relative Strength Index): The RSI is currently in the neutral to slightly overbought zone (around 60-69 on some timeframes). While a higher RSI can indicate overbought conditions, strong bullish momentum can sustain an elevated RSI for a while. There are no clear bearish divergences in the immediate 14 candles, suggesting no immediate reversal signal.
Volume: The 24-hour trading volume has seen a substantial increase (over $1.1 billion USD), confirming the strength of the recent price movement. High volume during a breakout suggests genuine buying interest.
Resistance and Support: Immediate resistance levels are seen around $1.60 - $1.65, which aligns with recent highs and the 200-day SMA on some charts. A decisive break above this level could target $1.70 - $1.80 and potentially even $2.00 to $2.80 in an extended rally, based on bullish pattern projections. Key support levels are forming around $1.45 - $1.50 (former resistance turned support) and lower at $1.30 - $1.35.
Fundamentals and Concerns:
Project Goal: Worldcoin aims to establish a global identity and financial network, distinguishing humans from AI using iris scans (World ID). This unique proposition positions it at the intersection of AI and Web3.
Regulatory Scrutiny: Despite the recent positive momentum, WLD has faced significant regulatory scrutiny in various countries (e.g., Spain, Portugal) regarding data protection and privacy concerns related to its iris-scanning technology. These regulatory challenges remain a long-term risk.
Tokenomics: WLD has a total supply of 10 billion tokens, with a circulating supply of approximately 1.52 billion (around 15%). The concentration of token holdings, with the top 10 wallets reportedly controlling over 78% of the supply, is a point of concern for some, raising questions about potential market manipulation and liquidity.
Adoption: The project's ability to navigate regulatory hurdles and achieve widespread adoption of World ID will be crucial for its long-term valuation. World ID has reportedly expanded into the U.S. and continues to gain traction in Asia.
In conclusion, Worldcoin is currently in a strong bullish phase, propelled by a significant funding round and positive market sentiment. The technical indicators largely support this upward trend.