Worldcoin (WLD) is currently trading at $1.26 and is at a critical point in its price action, with the potential for a breakout toward $2.80. The price is nearing the middle of a descending channel, which could signal either a breakout or a continued downtrend. Traders are closely watching key levels of support and resistance to see if the asset can break higher. If it successfully breaks through crucial resistance levels, WLD could target prices as high as $2.80, offering significant gains.
The price action of WLD in recent weeks has been confined to a descending channel, with key support and resistance levels at play. The immediate support is around the $1.25–$1.30 zone, and breaking above the $1.35–$1.50 resistance range is crucial for opening the path toward higher targets. If the asset can break through this resistance, the next levels to watch are $1.65, $1.95, and potentially $2.80. Traders are eagerly observing to see if WLD can break its downtrend and reach these higher levels.
Worldcoin’s network has seen significant activity, with active addresses rising by 45.05% over the past seven days and new addresses surging by 106.98%. This increase in activity is a bullish signal, indicating growing demand for WLD. If this momentum continues, it could support the potential for a breakout, with more traders and investors joining the network. Rising active addresses and retail transaction surge point to increased interest and support for the project.
Transaction statistics provide further insight into the current market sentiment for WLD. Despite the price downtrend, smaller transactions in the $0.00–$1.00 range have seen a 300% increase, indicating active participation by retail investors. On the other hand, larger transactions in the $10M–$100M range have decreased by 64.58%, suggesting a slowdown in institutional activity. Despite this, strong retail participation suggests that Worldcoin may have the necessary support for upward movement if a breakout occurs.
The Liquidation heatmap for WLD shows significant liquidation activity at the $1.26–$1.30 price level. If the price continues to move upwards from here, additional short positions may be liquidated, potentially triggering further price volatility and a short squeeze. Traders should closely monitor the price action around this level for any signs of rapid price changes that could indicate the start of a short squeeze and accelerate upward momentum.
Worldcoin has shown signs of potential growth as it approaches key resistance levels, with rising active addresses and retail transaction surge indicating increased demand and sentiment around the project. The liquidation heatmap also suggests the potential for a short squeeze that could further drive up prices. With all these factors in play, WLD is likely to break its downtrend and test higher levels, potentially reaching targets between $1.34 and $2.80.
