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Worldcoin Price Surges 21% Amid Altseason Rally

by Ouess
written by Ouess

Worldcoin (WLD) has surged 21% in the past 24 hours, climbing to $2.98. This jump coincides with the ongoing altseason, a phase marked by significant capital inflows into altcoins. Analysts highlight bullish patterns and robust trading volumes as key factors driving WLD’s upward momentum.

Altseason Fuels Worldcoin’s Rally

The altseason has created favorable market conditions for altcoins, including Worldcoin. WLD rebounded from its local low of $2.25 to hit $2.98, reflecting increased investor interest.

Altcoins often outperform Bitcoin during altseason, fueled by broader market breakouts. Analysts point to a confirmed breakout in total altcoin market capitalization, excluding Bitcoin, as a signal of bullish momentum across the sector. Worldcoin’s performance aligns closely with this trend.

Cup and Handle Pattern Suggests Bullish Potential

A Cup and Handle pattern has formed on the Worldcoin price chart, indicating potential for continued growth. This pattern, characterized by a rounded U-shaped cup followed by a smaller consolidation handle, signals accumulation before a breakout.

Key technical levels include:

  • Breakout Resistance: $2.60–$2.65
  • Support Level: $1.70
  • Future Targets: Analysts project WLD could rise to $11.97 and $20.04, with an optimistic target of $40.24.

Momentum Strengthened by Rising Volume

Worldcoin’s trading volume soared by 119% to $1 billion, indicating strong buyer interest. This growth follows the expansion of Worldcoin’s ID verification services to over 40 countries, including Costa Rica, Poland, and Austria.

WLD’s market capitalization also increased by 22%, reaching $2.10 billion. These metrics reflect a growing momentum that aligns with broader altcoin trends during this market phase.

Will Worldcoin Sustain Its Growth?

As WLD tests resistance near $2.60, breaking through this level could pave the way for a significant rally. However, maintaining support at $1.70 will be crucial in avoiding pullbacks. With altseason fueling interest and strong technical signals in play, Worldcoin appears well-positioned for further growth.

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Altcoin

WLD Breaks Resistance, Eyes $2.18: Bullish Momentum Ahead

by Ouess
written by Ouess

WLD (Worldcoin) recently broke through a crucial resistance trendline on the daily chart, as highlighted by a tweet from trader Maniac. This breakout suggests that the price could rise to $2.18, where the first major resistance level is located.

Traders should, however, be prepared for potential corrections after reaching this price point. Despite short-term fluctuations, the long-term outlook for WLD remains bullish, offering promising profit opportunities.

Market Analysis: WLD’s Price Action and Trends

A technical analysis of the WLD/TetherUS pair on Binance reveals a downtrend marked by a red trendline on the chart. Previously, WLD peaked near $12 but has since undergone a corrective phase, forming several support and resistance levels. The main support is around $1.35, while key resistance sits close to $3.40.

In recent months, WLD has tested its support level multiple times without breaking down. After hitting a low of $1.50 in June, the coin started showing signs of recovery in September. As of early October, WLD is trading around $2.18, reinforcing a bullish trend.

With this bullish structure in place, the price could move toward the $2.30 resistance level. If the momentum continues, Fibonacci retracement levels indicate potential resistance at $3.40 and even $6.00.

Technical Indicators Show Bullish Signs

As of October 8, 2024, the four-hour chart shows WLD trading at 1.957 USDT, a slight dip of 1.11%. The highest and lowest prices during this period were 1.988 and 1.950 USDT, respectively, with a trading volume of 502,922.

The 50-period exponential moving average (EMA) is currently at 1.857 USDT, with the price staying above it, indicating an upward trend. The Relative Strength Index (RSI) is 62.68, suggesting that WLD is approaching overbought conditions. However, the RSI’s position above 50 still points to ongoing bullish momentum.

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Altcoin

FTX to Auction 22.3M Worldcoin Tokens, WLD Price Falls 2%

by Ouess
written by Ouess

The price of Worldcoin (WLD) fell by over 2% after reports emerged that the FTX estate is preparing to auction off 22.3 million locked Worldcoin tokens at a discount, aiming to recover funds for its creditors.

WLD Price Drop Amid Auction News

The FTX estate is set to auction 22.3 million Worldcoin tokens (WLD), valued at approximately $37.7 million. The auction is part of efforts to recover assets for creditors following FTX’s collapse. This news led to a 2% decline in WLD’s price, with the token now trading around $1.70, down over 20% for the week.

Bids for the auction are due by midnight UTC on Wednesday, with results expected on Thursday. The locked tokens are expected to be sold at a significant discount, potentially between 40% and 75% off the current market price.

Unlocking Timeline for WLD Tokens

The auctioned WLD tokens will unlock gradually until 2028. The first batch of 20,539 tokens will start unlocking daily from December 1, 2024, until July 24, 2026. The second batch of 13,689 tokens will unlock daily from July 25, 2026, to July 24, 2028. This extended lock-up period has raised concerns among potential investors.

https://twitter.com/mcagney/status/1840799534353613061

Mike Cagney, co-founder and CEO of Figure Markets, confirmed the FTX estate’s auction plan, mentioning that Worldcoin tokens could be discounted by over 75%. Cagney also noted that Figure Markets may set up a fund to participate in the auction, similar to their involvement in the FTX estate’s earlier Solana auction.

Will WLD’s Price Rally End?

Earlier this year, the FTX estate sold its holdings in Solana and Metaplex tokens, with investors like Pantera Capital participating in these auctions. The auction of Worldcoin tokens follows these sales as part of FTX’s broader recovery plan.

Meanwhile, Worldcoin has gained attention for its innovative verification process using the “orb” and recently expanded its World ID verification to Poland, further increasing its global reach. Despite the current market uncertainty, technical analysis suggests that WLD could see price increases in 2025, with forecasts predicting a high of $4.29.

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Altcoin

Bitcoin ETFs See $100M Inflows as Worldcoin Surges 14%

by Ouess
written by Ouess

Amid global monetary easing, Bitcoin exchange-traded funds (ETFs) saw daily net inflows surpass $100 million for two consecutive days, signaling renewed interest in the crypto market. Meanwhile, Worldcoin surged over 14% as it expanded its World ID services to new countries.

Bitcoin ETFs Attract $100 Million Inflows

Data from SoSoValue reveals that BTC ETFs recorded over $100 million in daily net inflows for the second day straight, marking a five-day streak of positive inflows. This trend reflects growing investor interest in Bitcoin as global markets respond to monetary easing policies.

China’s recent decision to inject up to 1 trillion yuan ($142 billion) into its state banks, along with cuts to the reserve requirement ratio and interest rates, has boosted Asian markets. These easing measures from the People’s Bank of China (PBOC) have contributed to Bitcoin trading above $63,000 during Asian hours, despite a slight daily dip of 1.4%.

Ethereum Follows Suit with Positive Inflows

Ethereum (ETH) also saw positive momentum, with spot ETH ETFs posting a daily net inflow of $43 million. While ETH prices dipped 1.3% on the day, they were up 8% for the week. Presto Research noted that rising Ethereum gas fees, driven by increased network transactions, have helped ETH outperform Bitcoin since the U.S. Federal Reserve cut interest rates by 50 basis points.

Worldcoin Rallies Amid Global Expansion

In other crypto news, Sam Altman-backed Worldcoin (WLD) rose 14% in 24 hours. This surge comes as the project expanded its verification services to Poland, Malaysia, and Guatemala. Worldcoin’s growth was further fueled by an executive reshuffle at OpenAI, another of Altman’s ventures. Crypto traders often see developments at OpenAI as influencing WLD’s price.

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Altcoin

Worldcoin Price Surges Amid OpenAI’s New AI Model Release

by Ouess
written by Ouess

Worldcoin (WLD) saw a significant price increase on September 12 following OpenAI’s announcement of its new AI model, o1.

This model, designed for complex reasoning tasks, created a surge in Worldcoin’s value, breaking past key resistance levels. After initially spiking by 16%, the price settled around $1.49. Investors now wonder if Worldcoin can leverage this momentum to hit $2.

OpenAI’s o1: The Reason Behind Worldcoin’s Surge

OpenAI, known for its role in ChatGPT, unveiled a new AI model called o1, which is reportedly more advanced than its predecessor. The o1 model focuses on solving complex issues in fields like quantum physics and coding. This announcement generated excitement, as Sam Altman, co-founder of both OpenAI and Worldcoin, played a key role in this development. The connection between Altman and Worldcoin fueled speculation, helping drive the token’s price upwards.

Worldcoin Price Outlook: Can It Reach $2?

Worldcoin has been trading below $1.50, a strong resistance level, for weeks. However, the recent surge broke through this barrier, forming a bullish chart pattern. If Worldcoin successfully retests the new support level of $1.50, it could see a 34% increase, pushing the price to $2.00. If buying pressure continues, it might even reach the next resistance at $3.20.

On the downside, failure to maintain the $1.50 support could trigger a drop, with potential targets of $1.35 and $1.25.

Why is Worldcoin’s Price Rising?

The primary reason behind the recent rise is the launch of OpenAI’s o1 AI model and the market’s connection between Altman’s involvement in both projects. Additionally, despite criticism surrounding Worldcoin’s tokenomics and supply control, it has remained a hot topic in the crypto community.

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Story

Pepe Whale Moves $2.17M PEPE Off Binance, Sparking Bullish Sentiment

by Ouess
written by Ouess

A significant event has caught the attention of the crypto community—a Pepe coin whale has made a bold move by transferring large amounts of PEPE and Worldcoin (WLD) tokens out of Binance.

This transaction has fueled market speculation and sparked positive sentiment as traders watch the impact of these asset flows.

Whale Moves $2.17M PEPE Off Binance

The whale withdrew a massive 292.97 billion PEPE tokens, valued at approximately $2.17 million, along with 273,000 WLD tokens worth around $391,000 from Binance. This move has intrigued many, especially as PEPE’s price saw a 1.9% uptick within the last 24 hours. The timing of this transfer is noteworthy, as it comes on the heels of significant outflows caused by traders reacting to shifts in macroeconomic conditions.

The Impact of Exchange Flows on Market Sentiment

In the crypto world, the flow of assets in and out of centralized exchanges like Binance is a key indicator of market direction. When large amounts of cryptocurrency are withdrawn from exchanges, it often signals that holders are opting to retain their assets for longer periods, which can drive a bullish trend. Conversely, when assets flow into exchanges, it usually indicates an imminent sale, potentially leading to increased sell pressure.

Binance, as the largest crypto exchange by volume, plays a crucial role in shaping market sentiment. The recent actions of the Pepe coin whale suggest confidence in the asset’s future, even as PEPE has shown slower progress amid challenging market conditions.

Is a Price Rally on the Horizon?

The broader crypto market continues to trade sideways following a weekend downturn, with Bitcoin struggling to stay above $59,000. Despite this, Pepe remains in the green, currently priced at $0.0000075. However, it faces resistance at the $0.00001000 level, a key point highlighted by analysts as crucial for setting a new upward trajectory.

According to analysts, if PEPE breaks this resistance, it could be on course to reach $0.00001872. The analysis also points out that the weekly Stochastic RSI has entered the oversold region, a pattern that previously led to new all-time highs for PEPE.

Despite recent losses—14% last week and 12% over the past 30 days—PEPE’s short-term outlook appears more optimistic. Similarly, Worldcoin (WLD) has seen a 1% price increase, showing signs of recovery after earlier outflows.

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