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Worldcoin Made Double Bottom: Can WLD Register Breakout Ahead?

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The Worldcoin (WLD) price has regained buying momentum and displayed a rebound from the 200 day EMA mark. The token is past the correction phase and could show a sharp uptick soon.

Additionally, a double bottom formation was made and buyers are eager to register the breakout in the coming trading sessions. A break and close above the $6 mark may trigger a sharp rise over 5-10% and will reach the $7 mark soon. At press time, WLD traded at $5.961 with an intraday surge of 3.25%, reflecting neutrality on the charts. It has a monthly return ratio of -6.90% and 3866.29% yearly, revealing a long term bullish trend.

The pair of WLD/BTC is at 0.0000973 BTC, and the market cap is $1.25 Billion. Analysts are bullish and suggest that the Worldcoin price may register a breakout, if it succeeds to cross and sustain above the $6 mark.

What Does Price Action Articulate On Worldcoin (WLD)?

The daily charts of the WLD coin showed fresh bull accumulation and the coin has gained momentum in the recent sessions. The price action replicates that, the WLD coin trades near the neckline hurdle of $6. 

Moreover, WLD has started to form higher high swings and is anticipating a breakout in the coming sessions.

Source: Santiment

Followed by the price surge, the trading volume depicted significant rise in investor interest and noted a surge over 32.28% to $286.49 Million.

Per the GIOM indicator, around 50.70% in-the-money holders are in profit, and more than 48% out-of-the-money holders looking to secure the gains near the supply zone of $6.

Source: IntoTheBlock

Meanwhile, this activity might create pressure on the bulls and it will react as a retracement ahead.

Futures OI Data Signifies Buying Pressure

WLD

Source: CoinGlass

The intraday derivative segment highlights the fresh long buildup activity and the open interest spiked over 7.87% to $237.47 Million.

Social Dominance and Development Activity Outlook

The social dominance data showcased a slight decline, and the value dropped over 3.25% to 0.049%. 

The development activity showed a consistent up move and the value remained flat close to the 50 mark. The data might trigger the positive outlook and the coin may trigger the bull rally soon.

The immediate support levels for WLD is $5.50 and $5, whereas the key upside hurdle is around $6.20 followed by $6.80.

Conclusion

Worldcoin (WLD) price highlights the fresh bull accumulation and is signifying buying pressure. Moreover, WLD crypto might trigger the bull rally and will outperform in the next sessions.

Disclaimer

The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. 

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