Bears have taken complete control of the cryptocurrency market recently, suppressing the prices of many leading digital assets, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), Cardano (ADA), and many others.
However, a few currencies have managed to stay in the green zone, and Worldcoin (WLD) is one of them.
What’s next?
A few hours ago, the token’s price briefly crossed $0.55, rising to its highest point since January. Later, the price rebounded to the current $0.48 (according to CoinGecko), representing a 60% increase on a weekly basis. Its market capitalization has exceeded $1.6 billion, making WLD the 51st largest cryptocurrency.
Perhaps the main catalyst behind the rise is recent whale activity. Calculate X BSCN open WLD transactions exceeding $100,000 have reached their highest level this year, adding that the growing staking, increased network activity and upcoming reduction in token emissions have also played a positive role.
User X Crypto Tony Named WLD, as one of the “strongest” altcoins, expects it to reach $0.63 if the price remains at the key level of $0.45. Other popular analysts who participated in this project include Altcoin Sherpa and Crypto Catalysts.
the previous Plasmodium Pump to $0.65 if “BTC remains stable,” while the latter male The asset performed impressively amid the recent crypto carnage and forecast a potential rally to $2.
For his part, Arthur Hayes – Co-Founder of BitMEX and CIO of Maelstrom – said: hiring The target price for the future is $10. It is later described The token as a “dirty coin” will “go to the moon” only because of its connection to emerging artificial intelligence (AI) technology.
Going south?
It is important to note that a strong rise in WLD prices can also be followed by a pullback, given how quickly the upward movement occurs. The Relative Strength Index (RSI) is an accurate technical analysis tool that highlights this risk.
Recently, it has risen beyond 70, which means that the asset has entered the overbought zone and could be on the verge of a correction. The index ranges from 0 to 100, and conversely, anything below 30 is considered a bullish signal.
Meanwhile, some analysts were not kind to Worldcoin. User described It is a “dead project” that follows NEAR only because of the AI trend. They don’t expect much from WLD, claiming that the team behind it “doesn’t do anything.”
this post Worldcoin (WLD) Explodes 60% Weekly Despite Cryptocurrency Carnage: Are There More Gains on the Way? appeared first on CryptoPotato.
