- Worldcoin was testing a significant horizontal level, which coincided with the low back in 2023.
- A potential trade on WLD could offer upside as Open AI’s “At Last” event in San Francisco approaches.
Worldcoin [WLD] reached a crucial horizontal resistance at $0.96, marking a significant low in 2023.
This level acted as a point of indecision for WLD after a strong rally, as the price attempted to break above but failed just below $0.9683.
A confirmed breakout above this zone, along with a daily close above it, could lead to further upward momentum, but confirmation from higher timeframe patterns is necessary.
The next key barrier for continuation was at $1.15, with progress depending on the strength of the ongoing rally.
Source: TradingView
The current resistance level could lead to short-term price consolidation, but a retest of the $0.88 to $0.90 range could boost bullish sentiment.
Despite the absence of explosive trading activity, rising buy volume supported this move.
If price consolidates above $0.96, it could signal a shift towards bullish momentum, provided the consolidation’s lower boundaries remain above $0.96.
A failure to hold this crucial area could lead WLD prices towards $0.80 and below, with caution around the $1.15 level requiring a strong breakout for confirmation.
WLD trade count size and profitability
Transaction data indicated increasing investor engagement across retail and institutional segments.
Notable surges were observed in the $10k–$100k (+89.01%) bracket, the $100k–$1M (+78.57%) bracket, and the $1M–$10M (+100%) bracket, while transactions under $1 decreased by -41.38%.
The return of high-value traders and whales hinted at a potential larger upward move.
Mid-tier activity also saw growth, with a +13.48% increase in the $1k–$10k section and a +30.43% increase in $100–$1k transactions.
Source: IntoTheBlock
These sharp increases often precede market volatility and price movements, though they are not direct indicators of Worldcoin’s value fluctuations.
Currently, 60.72% of WLD holders are at breakeven, with 3.36% in profits and 35.92% in losses.
WLD’s price action is sensitive around breakeven levels, given the large number of price-reactive holders and few profit-takers.
The future price trajectory for WLD remains uncertain, with the market potentially maintaining its volume or experiencing sudden spikes in the coming weeks.
Impact of Open AI event on WLD
The upcoming “At Last” event hosted by Sam Altman from OpenAI in San Francisco could drive growth for WLD.
Similar events have boosted market sentiment in the past, as seen with Avalanche [AVAX] and Near Protocol [NEAR] in previous years.
Speculation suggests that Worldcoin could play a role as the payment method for OpenAI’s future social platform launch.
If the “At Last” event confirms the rumors about a new cryptocurrency social platform, Worldcoin could surpass the $1 mark.