Worldcoin's Native Asset (WLD) Hovers Around $4.7 with Potential Bullish Momentum Ahead

Worldcoin's Native Token, WLD, is currently priced at approximately $4.7, nearing a demand zone that previously acted as resistance in December 2023. Concurrently, there is a surge in addresses, indicating a potential uptrend for WLD.

Challenges for Worldcoin

On April 23, Worldcoin encountered resistance around the $6.188 level, failing to surpass its previous high. To establish a positive trend, the daily session must close above this resistance level, which is yet to occur.

Previous technical analyses have identified $6.188 as a crucial resistance point for WLD. While the longer timeframes remain negative, with a recent 21% decline indicating bearishness, social volume remains relatively low despite a gradual increase in the past two months. Moreover, while development activity on the Worldcoin project remains consistent, it lags behind other blockchain networks like Cardano (ADA) and Solana (SOL).

Bearish sentiment persists, as reflected in the 3-day weighted sentiment, indicating declining investor interest since March. However, there has been a steady increase in daily active addresses since late March, suggesting positive momentum for Worldcoin. Additionally, network-wide accumulation is evident from the rising trend in mean coin age in April.

Outlook for WLD

In the near term, Worldcoin may experience bearish trends as the recent rally has fizzled out and holder sentiment remains weak. However, a rebound from the $4 support level could lead to a consolidation phase, potentially offering a recovery opportunity for long-term bulls.

As of the latest market data, WLD is trading at $4.81, showing a slight decrease of 1.16% in the last 24 hours. Despite this, trading volume has surged by 22.8% to $223 million, with the market cap exceeding $1 billion.

Worldcoin's Potential

Analysts anticipate that WLD could surge to a new all-time high of $27 within the next year, driven by its expanding utility and adoption, as previously reported by Crypto News Flash.