The price of Worldcoin (WLD) is expected to increase following Nvidia’s earnings report today, after a week of stability. Recently, Nvidia (NVDA) has garnered attention with its impressive earnings, which have positively influenced the market for AI-based altcoins like WLD. If Nvidia's earnings surpass expectations, it could be a major catalyst for a rise in WLD’s price.

Worldcoin’s Future Linked to Nvidia

In Nvidia’s last earnings release, their earnings per share beat analysts’ predictions by 12.34%. This unexpected increase had a significant impact on AI coins, especially Worldcoin, which saw a price jump of up to 50% between February 21 and 22. A similar event took place in the past; a 19.4% positive surprise in November's earnings report caused Worldcoin to increase by about 20% from its daily low. If Nvidia’s actual earnings exceed estimates once again, AI tokens, particularly WLD, could see substantial gains.

Promising Signs for WLD Price

Worldcoin’s price has dropped 69% from its all-time high of $11.97 on March 10, and has been consolidating between $4.59 and $5.24 over the past week. The weekly support level of $4.59 recently pushed WLD up by 7%, with the current trading price at $5.07.

With Nvidia’s upcoming earnings, the $5.24 level could turn into a new support point, breaking away from the current price range. If this happens, investors might witness a rise in WLD by up to 20%, aiming for the next daily resistance level of $6.30 from May 13. However, this surge might pause around the psychological mark of $6.

Possible Downtrend if Earnings Disappoint

Conversely, if Nvidia’s earnings report falls short of expectations, WLD could experience a downtrend. This decline might pull the AI-based altcoin back to a lower level like $4.59. In this scenario, Worldcoin’s price could drop below this level, triggering a 10% decrease to test the weekly support level of $4.20. If the broader crypto market remains positive, this level could present an opportunity for buyers to accumulate WLD.

If Worldcoin’s price closes below the weekly support of $4.20, it might indicate market weakness. This move could result in a lower low on higher time frames, invalidating the bullish outlook. In such a case, WLD could then face a 9% correction towards the April 13 low of $3.69.

In summary, Nvidia’s earnings report holds significant influence over Worldcoin’s price movement. A strong report could lead to substantial gains, while a disappointing report might trigger a decline. Investors should keep a close eye on Nvidia’s performance to gauge the potential impact on WLD.