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WorldCoin Price Surges 18% in a Week as Its User Base Hits 30M Users - Bulls Target 232% Gains

Highlights:

  • The price of Worldcoin surges 5% to $1.27, as its trading volume increases by 65%.
  • The Worldcoin user base has reached 30 million, with 14 million verified humans, indicating a growing global expansion.
  • WLD derivatives data shows a spike in volume and open interest, signalling rising confidence in the market.

The Worldcoin price is showing resilience, having soared 5.33% to $1.27 in the past 24 hours. The recent spike is reinforced by a surge in daily trading volume of 65.96%, indicating heightened market activity. The WLD token has risen by 18% over the past week and 54% over the past month, indicating growing demand.

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Worldcoin is a rapidly growing decentralised system, with its user base recently setting a record. The World App has over 30 million users, larger than the population of Texas. Moreover, 14 million verified human beings are confirmed on the network. This reflects the magnitude of miles in the NASA Apollo mission. 

Meanwhile, the Worldcoin derivatives market is exhibiting strong bullish momentum for the coin. Currently, Worldcoin is up 37.10% in the last 24 hours, with a volume of $1.64 billion and an open interest of 19.36%, at $426.42 million. The expansion points to the high demand for the WLD token in derivatives markets, where investors are betting on the platform’s future. 

WLD Derivatives Data. Source: CoinGlass

The long/short ratio of 0.941 indicates that the market is not overly overvalued. Moreover, the Binance WLD/USDT ratio stands at 3.39 for long positions, indicating intense confidence in the market. This is also aided by the option market, where long positions have stood at $1.22 million over the last 24 hours, surpassing the short positions at 753.92K. This suggests that traders anticipate an upward movement.

WorldCoin Price Poised for a Breakout

The Worldcoin price daily chart outlook appears to be ready for a breakout, following its surge above $1.05. However, the token has currently entered a consolidation phase, as the bulls aim for further upside. The immediate support zone is established at $ 1.00 and $1.16, aligning with the 50-day and 200-day moving averages, respectively. 

Worldcoin price
WLD/USD 1-day chart: TradingView

The Relative Strength Index (RSI) level of 65.72 shows intense buying pressure. There is still more room for further upside until the token is considered overbought. On the other hand, the MACD indicator, which shows the MACD line at 0.08433 above the orange signal line at 0.0514, indicates signs of upward momentum. Traders are at liberty to buy more WLD tokens unless the MACD changes. 

WLD Nears RSI Overbought – Is $4.20 In Play?

The Relative Strength Index (RSI) at 65.72 is creeping into overbought territory, hinting at a potential pullback if the buying frenzy cools. Meanwhile, the Moving Average Convergence Divergence (MACD) indicates a bullish crossover on 22 June. The histogram bars are consolidating around the same height, meaning the trend’s still in the early stages and could use more fuel. 

If the Worldcoin price remains above $1.44, the token will be in a strong position. However, if it falls below that, it could drop to around $ 1.16, a support zone. However, if the momentum holds and the recent growth captures various investors, with the volume surge, the price could rise 119-232% to reach $2.73–$4.20 by mid-August.

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