The Cryptocurrency market is booming again with BTC returning to $97,000. In the midst of this context, some cryptocurrencies experience significant rallies. This is the case of WLD, the Word token (formerly Worldcoin).
WLD price is trading at $2.89, with daily gains of 5.98%, weekly gains of 33.94%, and strong monthly gains of 40.69%. In the last 24 hours the price experienced a significant rebound and token hit 4-month highs.
Regarding the factors that motivate the rise in the price of the World token, the main one is the current Altcoin season. That is, the general trend that exists in the cryptocurrency market and that has taken many of them to historical and year-long highs.
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In turn, the World project has made important progress in its development, such as the launch of the “World ID Passport Credential” pilot in several countries.
This last function in the Word project allows users with iOS devices to link NFC-enabled passports to their World ID to verify themselves on the platform without the need for traditional iris scanning using an Orb device.
This important development, which for now is available in only a couple of countries, will allow a great advance in the number of registered users in World, since in this way users would avoid the long process involved in iris scanning.
It is also worth noting that this advance comes amidst privacy concerns that currently exist in countries such as Spain, Hong Kong, Kenya, South Korea and Ecuador.
As we narrated in another CriptoTendencia publication, in this last Latin American country, World’s activity was suspended at two data collection points amid concerns from the government authorities of said country about the integrity of the data of Ecuadorian users.
WLD Chart Analysis: Key Levels to Watch Out for
On the monthly chart we see how the price of WLD rose from the monthly low of $1.5 to a 4-month high of $3.06.
WLD Price Analysis: Key Levels to Watch for World Token
Undoubtedly, In the short term the price of WLD experiences a kind of correction from the mentioned maximum levels. However, the bulls are looking to establish the token above the $3 level. If this is possible, then the price will be prepared to start facing the following resistances:
Firstly, the $3.06 level, the high we have been talking about and which represents significant resistance. If the price manages to overcome this resistance, the next level to watch is $3.26, a six-month high and from where the price was decisively rejected when WLD reached that level.
The last resistance we will mention is $3.5. If the price manages to overcome this range, then we can project towards 4 USD.
Regarding the supports, we can mention the 2.6 USD or the 20 EMA, which would represent the end of the current bullish momentum. Given the current context, it is unlikely that the price will lose that level in the short term, but if it does, the next support level to watch is $2.50 or the 50 EMA.
A loss of the last level would take the price to lower levels such as $2.24, near the 200 EMA. For now, this level seems to be the strongest support, the price has found stability on that line, however, a drop below of the same would take the price to levels as low as 1.8 USD.
Also worth mentioning is the RSI at 69, which shows the strength of the bulls. The price is not yet overbought, so in the short term new increases seem feasible.
Analyst predicts that WLD will exceed $4
Popular crypto analyst Ali Martínez expressed in an X publication that the price of WLD could be close to reaching the key level of $4.
«WLD at $4 Dollars coming soon».
Although these types of analyzes are frequent in these market conditions, and are fueled by enthusiasm, Ali Martínez’s prediction is quite conservative compared to other projections that point to highs of even $12 for the World token.
In our case, we do not project the analyzes to levels as high as those mentioned, however, we must take into account that the price of WLD has reached historical highs above 11 USD, so this type of projections is normal.
It is important for investors and traders to keep in mind that WLD has just experienced a strong rise, from $1.5 to $3.06. So taking into account the mentioned support levels is important in this context to avoid large losses.
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