Why Worldcoin Price Rally Could Hit a Six-Month High

Worldcoin (WLD) has experienced a significant price surge, skyrocketing over 50% in the past week. Partly fueled by the broader market rally, this growth is largely attributed to the project’s aggressive global expansion, with over 40 countries added to its network this month alone.

With a positive general market sentiment and World’s plan to expand to more countries, the Worldcoin price rally may continue in the short term. Here is why.

World’s Expansion Increases the Demand For WLD

World, the digital identity project co-founded by OpenAI’s Sam Altman and powered by iris-scanning technology, has expanded its reach, launching in over 40 countries — including recent entries into Costa Rica, Poland, and Austria this November. This rapid expansion has drawn significant attention to its WLD token, driving a notable price surge.

Worldcoin’s value has spiked by 27% over the past 24 hours. It currently trades at $2.73, a price level last reached in July. The altcoin’s rally in recent weeks has been backed by substantial demand, as evidenced by the positive readings from its price daily active address (DAA) divergence metric. At press time, this metric’s value is at 137.92%.

An asset’s price DAA divergence compares its price movements with the changes in its number of daily active addresses. It tracks whether a corresponding network activity supports an asset’s price movement.

When this metric is positive during a price rally, it is a bullish signal, indicating strong underlying momentum and potential for further price appreciation. It suggests that increased network activity supports the coin’s rally, as heightened engagement often precedes price increases. As more participants become involved, demand for the asset grows, driving its price higher.

Moreover, the market’s sentiment regarding WLD is currently bullish. Santiment’s data shows its weighted sentiment at 0.64 as of this writing. 

An asset’s weighted sentiment metric tracks the market’s overall mood toward it. When it is above zero, social media discussions are predominantly driven by positive emotions, indicating that market participants anticipate further price growth.

WLD Price Prediction:

As of this writing, WLD trades at $2.73, positioned slightly above the $2.44 resistance level. Its rising Chaikin Money Flow (CMF), currently at 0.22, confirms high demand for the altcoin. The CMF measures the flow of money into and out of an asset. When above zero, it signals market strength and high liquidity inflows. 

Should buying pressure hold, the $2.44 resistance could become a support floor, setting the stage for WLD to target the $3.61 mark. Successfully breaching this level could propel the Worldcoin price rally to a six-month high of $5.40.

On the other hand, if buying pressure diminishes and bullish sentiment turns bearish, this projection will be invalidated. In that case, WLD could lose recent gains, fall below the $2.44 resistance, and attempt to stabilize at $1.34.