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Worldcoin (WLD) Price Could Continue Its 22% Increase

2 mins
Updated by Ryan James
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In Brief

  • Worldcoin's price is witnessing the formation of a bullish double-bottom pattern, which projects a potential 22% rally.
  • The whale addresses are still supporting this outcome, as they have been massively accumulating for the past week.
  • Growing participation, along with the increase in price, hints at Price DAA Divergence flashing a buy signal.
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Worldcoin’s (WLD) price is in the middle of validating a bullish reversal pattern, but the broader market cues are causing a delay.

Nevertheless, with the support of its investors, the cryptocurrency could continue its rally, provided it stays above key support.

Worldcoin Investors Remain Optimistic

Worldcoin’s price witnessed correction over the past few days, resulting from the market cooling down. The altcoin was in the midst of noting a bullish reversal rally and will likely continue that in the future.

This is because, despite the correction, WLD holders remained bullish in their behavior. Whale addresses, in particular, not only continued accumulation but even accelerated their pace. In the span of a week, addresses holding between 100,000 and 1 million WLD added more than 2 million WLD. 

Worldcoin Whale Holdings.
Worldcoin Whale Holdings. Source: Santiment

This $11.6 million purchase is a signal that investors are gearing up for further increases in price.

Secondly, participation among retail and whale investors has also witnessed a considerable increase. An increase in the transactions being conducted on-chain, along with the rise in price, is considered a buy signal.

Read More: How to Buy Worldcoin (WLD) and Everything You Need to Know

Worldcoin Active Addresses.
Worldcoin Active Addresses. Source: IntoTheBlock

Should this lead to a surge in accumulation among retail investors, Worldcoin’s price would rise as well.

WLD Price Prediction: 22% Rise Could Be Completed Soon

Worldcoin’s price, at the time of writing, is trading at $5.8 after breaching through the neckline of the double-bottom pattern it is in. 

A double bottom pattern forms when a security’s price reaches a low, bounces, revisits the same low, and then bounces again, indicating a potential trend reversal from bearish to bullish.

Given the aforementioned factors hint at continued bullishness, the 22% rally target set by the pattern could be completed. Despite the correction, WLD will likely bounce back from the neckline support at $5.6 to chart a rise to $6.8.

Read More: Worldcoin (WLD) Price Prediction 2024/2025/2030

Worldcoin Price Analysis.
Worldcoin Price Analysis. Source: TradingView

However, if the support of $5.6 is lost, the altcoin could end up falling to $5.0. Should Worldcoin’s price fall through the latter support, the bullish thesis would be invalidated, resulting in a dip to $4.3.

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Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

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Aaryamann Shrivastava
As a Mass Media (Journalism) graduate, my journey into cryptocurrency journalism has evolved into a distinguished role as an On-Chain Analyst over the past two and a half years. Collaborating with industry-leading media companies like FXStreet, AMBCrypto, and FXEmpire, I’ve delved deeply into the intricate realms of Crypto and Blockchain, crafting over 2,500 meticulously curated SEO-focused articles. Driven by a commitment to excellence, I remain steadfast in delivering the highest caliber...
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