Can Worldcoin ($WLD) Sustain Its 20% Rally?

٢٩ نوفمبر ٢٠٢٤

Worldcoin (WLD) has surged an impressive 21% in 24 hours, reaching $2.98 amid rising investor interest and a broader altseason rally. With trading volume up 119% to $1 billion, we are keenly watching whether this momentum will continue or face resistance. Let's explore the factors driving WLD's performance and its potential future trajectory.

Altseason and Adoption Growth
The ongoing altseason has provided a favorable backdrop for Worldcoin's recent surge. Altcoins often outperform Bitcoin during these phases, attracting significant capital inflow and investor interest. A confirmed breakout in the altcoin market capitalization, excluding Bitcoin, signals the start of a bullish phase. Worldcoin’s alignment with this trend highlights its potential as a key altseason player.

Moreover, Worldcoin’s expanding ID verification services in over 40 countries—including Costa Rica, Poland, and Austria—has added to its bullish momentum. This expansion demonstrates real-world utility and increasing adoption, boosting market confidence.

Technical Analysis: Key Levels to Watch
After its recent 21% surge, WLD is trading within a consolidation zone, currently down 2.28%. Despite this minor pullback, the technical indicators remain promising:

Support and Resistance
The key support lies at $2.49 and the 38.2% Fibonacci retracement level, providing a strong foundation if selling pressure increases.

The immediate breakout handle at $2.60–$2.65 is crucial. Surpassing this level could propel WLD to $4.78, with $3.40 as an intermediate target.

The RSI is Currently at 66, the Relative Strength Index indicates that buying momentum is still strong, holding off bearish pressures. However, if selling pressure persists, a retracement to the 38.2% Fib level is possible.

Impact of Major Altcoins
The broader market, particularly Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB), will play a pivotal role in determining WLD's trajectory. If these major cryptocurrencies continue their bullish trend, WLD could ride the momentum and push past $3.40.

Conclusion
Worldcoin's recent surge is fueled by strong fundamentals and favorable technical patterns. The ongoing altseason and rising trading volumes suggest potential for further gains. However, traders should watch key resistance levels and market sentiment closely.

If WLD breaks above $2.65 convincingly, the path to $4.78 and beyond becomes more plausible. Conversely, a retracement to the 2.49 support level could offer a buying opportunity for those looking to capitalize on the next wave of altcoin momentum.

Stay vigilant—WLD’s journey in this altseason is just beginning.