Altcoins
It could rally by 80% if it clears this crucial resistance
In times 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 lift the token above the bearish influence. In the meantime, the bearish possibility could persist as the dominance continues to be in their favor. Regardless, 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 surge of over 110% in volume over the past 24 hours, Worldcoin has managed to beat the bearish pressure that has dogged the cryptocurrency space since the beginning of the month. The price skyrocketed as soon as Open AI announced Sora, which lifted the entire AI space. Unfortunately, after earning a double-digit figure, the price has fallen by over 80%. However, the bearish grip on the token seems to have vanished as the price is poised for a new bullish move.
WLD price seems to have reached the bottom of the mountain as all profits have been squeezed. Bulls have been trying hard to regain their dominance by maintaining a decent grip on the token since the beginning of the month. Meanwhile, the RSI has formed a double bottom pattern, which suggests that a fair reversal is on the horizon. However, the DMI suggests that the price may remain consolidated as the levels take time for a bullish crossover.
The ADX, which describes the strength of the rally, has reached the upper limit, indicating a potential pullback, supporting the continuation of an accumulation phase. As the end of the month approaches, Worldcon (WLD) price is expected to move away from accumulation as new liquidity is expected to enter the platform. This could trigger a new upward move, paving the way for an uninterrupted upside of 0.38 FIB, breaking 0.23 FIB to reach above $5 in the coming weeks.