The cryptocurrency market today showed a massive upward trend in its valuation, with major altcoins adding significant value to their valuation. The price of Worldcoin has increased by around 40% in the last 24 hours, making it one of the biggest gainers of the day in the crypto space.
Worldcoin (WLD) price is about to test the $10 mark!
Worldcoin price traded in a closed range between $2.144 and $2.670 for a brief period, after which the bulls gained momentum and the price broke out of the range. However. The rally was short-lived as it was rejected at $3.273, after which the price moved sideways for some time.
As market volatility increased, the bulls regained momentum and recorded another 53.40% jump over the next two days. After trading sideways for some time, the WLD token recorded another 55.129% jump in valuation.
Worldcoin was then rejected at $7.789, after which the price traded in a consolidated range between $6.291 and $7.789 over the next three days. Recently, the bulls managed to break out from the resistance level but were rejected at $8.831 and have been trading sideways since then.
The Moving Average Convergence Divergence (MACD) displays an increasing green histogram, indicating increasing buying pressure in the market. Additionally, the averages show a bullish convergence, suggesting a positive price development for the WLD token in the coming days.
How high will the Worldcoin price reach?
If the market pushes the price above the $8.831 mark, the bulls will regain momentum and prepare to test the upper resistance level of $10 by the weekend.
Conversely, if the bears overpower the bulls, WLD price would lose momentum and fall to test its support level of $7.789. Moreover, if the bears continue to dominate the market, the market will plunge further and prepare to test its lower limit of $6.291 in the coming month.