Worldcoin Price Prediction: Ready for a Big Move?
OpenAI CEO Sam Altman’s baby cryptocurrency project Worldcoin has been popular since its announcement, with its founders calling it revolutionary.
Cryptocurrencies may be bullish in the short term as they eye a potential breakout on the price chart.
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World Coin Price Prediction
Worldcoin is currently trading at $2.43 with a market cap of $294 million and 24-hour trading volume of $65 million. Circulating supply is 10 billion tokens out of a total token supply of 10 billion.
The current WorldCoin price is still far from the recent high of $4.69 hit on December 17, 2023. However, it is showing signs of recovery from the recent low of $0.9731, recorded on September 13, 2023. Trend analysis chart:
Price is consolidating inside a descending triangle. Currently we are trying to break the resistance trend line. We have to wait for a successful breakout or collapse.
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Weekly Price Analysis
If you look at the weekly chart of the cryptocurrency, you can see that it has been in a downward trend since the beginning of the year.
The support level is around $1.5, consistent with the 50-week moving average (MA).
The resistance level is around $3, which coincides with the 78.6% Fibonacci retracement level of the downward move from the December high to the January low.
The relative strength index (RSI) exceeds 50, indicating positive market conditions.
future prospects
One of the factors contributing to the support for cryptocurrencies is Sam Altman’s new commitment to the Worldcoin project. Altman is reportedly seeking $50 million in additional funding.
In terms of innovation and competition, one of the key events that will impact the price of worldcoin is the launch of World ID, a privacy-preserving global identity network that verifies the humanity of users online. World ID allows users to receive recurring grants of free WorldCoin tokens (WLD) as an incentive for joining the network. World ID also paves the way for a new governance mechanism that combines the one-token, one-vote model with the one-person, one-vote model.
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