Worldcoin is showing strong signs of a rally, with a key bullish indicator suggesting a potential surge.
- Worldcoin was trading within a bullish setup, with market activity pointing toward increasing buying pressure. The imminent formation of a golden cross, along with supportive market metrics, further strengthens the outlook.
Having gained 31.74% over the past month, Worldcoin [WLD] is well-positioned to extend its rally.
The recent 0.35% gain rise aligns with the base of a symmetrical bullish pattern, setting the stage for a potential breakout and significant upward movement.
WLD set for a major move
On the 4-hour chart, Worldcoin was trading within a symmetrical triangle at press time, and recently rebounded off the channel’s support zone, moving toward a potential breakout.
If the momentum proves strong enough, WLD’s first target after breaching resistance will be $2.650, its short-term objective.
A continued push could see the price reach its long-term target of $3.260, provided the bullish momentum holds.
Source: TradingView
However, if the channel’s resistance holds firm, WLD may experience a slight pullback before attempting another breakout, or it could face a downward trend as seen in its last three attempts at this level.
Market sentiment supports this outlook, as detailed by AMBCrypto below.
Bullish shift for WLD
There has been a steady increase in the number of long positions being opened on WLD, indicating that previously bearish traders are turning bullish.
This shift has been accompanied by a modest 0.99% rise in price, pushing Open Interest to $250.64 million.
According to Coinglass, this gradual uptick suggests that WLD’s price could follow a similar upward trend.
Further supporting this outlook, AMBCrypto found that the Funding Rate has also gained traction, now at 0.0109%.
A positive Funding Rate, where long positions pay short positions, signals growing demand for long trades, setting the stage for a potential rally.
Source: Coinglass
Golden cross signals potential upside
WLD was approaching a key bullish indicator as a golden cross pattern formed at press time, with the blue MACD line crossing above the orange signal line at readings of 0.019 and 0.020, respectively.
This crossover suggests that WLD could gain further upward momentum.
Source: Trading View
The recent weakening of bearish momentum hints at a shift, and if the Golden Cross completes, a rise in green momentum bars is likely to follow. This would position WLD for significant gains beyond its current levels.
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