Worldcoin Surges 40% to Reach 4-Month High Near $3
Worldcoin (WLD) experienced a nearly 40% increase in the last week, briefly reaching the $3 mark. The cryptocurrency achieved a 4-month high after approaching the upper range of a multi-month price zone, boosting investor optimism regarding a potential breakout that could lead to new highs.
Worldcoin Hits 4-Month High
Worldcoin has declined significantly since its all-time high (ATH) of $11.74, retracing about 75% from its March peak. Following Q3 declines, it fell below the $3 support and dropped under the $2 mark after August’s market downturn. Since then, WLD has traded between $1.3 and $3.2, consolidating below $2.5 for several months. Following a post-election rally in November, Worldcoin surged approximately 75% in three weeks, reclaiming the $2 zone.
Earlier this week, WLD surpassed the $2.5 resistance level for the first time in three months, which subsequently became support. The token surged 23% intraday on November 28, achieving a four-month high after trading above the $3 mark.
Crypto analyst Yuriy noted a potential "big move" is imminent for WLD, citing a 135% rise in open interest (OI) since election day. According to Coinglass data, Worldcoin's OI increased from $184 million to $433 million in three weeks, marking its second-highest day on Wednesday. Additionally, it recorded a 9.65% increase in the last 24 hours and a 12% jump in the past hour, indicating heightened confidence among traders.
Yuriy suggested WLD might follow the trajectory of Cardano (ADA), which recently reached a 2-year high. After its OI increase, ADA recovered from a 75% decline and broke out of its multi-month consolidation, reclaiming the $1 mark.
WLD’s Breakout To Target $3.5
The analyst indicated that the $2.8 mark is a crucial support level to confirm, as it was a significant resistance earlier this month. Consolidating above this level could enable the token to reach the next target. WLD is nearing a breakout from a 4-month range, potentially targeting the $3.5 price range short-term. Analyst AMBcrypto highlighted the $3.5 mark as the next major resistance for Worldcoin, suggesting that a breakout could push it towards its previous high of $11.
Currently, Worldcoin trades above $2.9, reflecting a 31% increase over the last month. The token has also seen a 42% rise in daily activity, with a trading volume of $1.67 billion in the past 24 hours.
