Altcoins
Price could surge 80% if it breaks this crucial resistance
At a time when bearish clouds are hovering over the cryptocurrency markets, Worldcoin (WLD) is showing significant strength. The price has bottomed out and seems to be preparing for a huge bullish move, which could elevate the token above the bearish influence. In the meantime, the bearish possibility may persist as long as the dominance continues to be in their favor. Regardless of this, the WLD Price is expected to rise more than 30% in July, which could pave the way for another 50% jump by the end of the third quarter of 2024.
With a volume surge of over 110% in the last 24 hours, Worldcoin has managed to overcome the bearish pressure that has been haunting the crypto space since the beginning of the month. The price spiked sharply as soon as Open AI announced Sora, which boosted the entire AI space. Unfortunately, after reaching double digits, the price has dropped by over 80%. However, the bearish grip on the token seems to have faded as the price is poised for another bullish move.
WLD price seems to have reached the bottom of the mountain as all profits have been pared. Bulls are trying to regain their dominance by maintaining a decent hold on the token since the beginning of the month. Meanwhile, the RSI has formed a double bottom pattern, suggesting that a fair reversal is on the horizon. However, the DMI suggests that the price could remain consolidated as the levels require time for a bullish crossover.
The ADX, which describes the strength of the rally, has reached the upper threshold, indicating a potential pullback, supporting the continuation of an accumulation phase. As the month-end approaches, Worldcon (WLD) price is expected to move away from accumulation as new liquidity is expected to arrive on the platform. This could trigger a new upward move, paving the way for an uninterrupted 0.38 FIB rally, surpassing 0.23 FIB to reach over $5 in the coming weeks.