WLD Technical Analysis
We have recently seen a crucial development which could have a great effect on the AI ecosystem. According to what WSJ wrote, Oracle and OpenAI signed a huge infrastructure deal amounting to $300 million. This massive deal is expected to bring huge demand for AI infrastructure and to increase the significance of ZK-ID based projects like Worldcoin.
When we analyze WLD on a daily time frame, we see that it had been moving within a long-term descending channel and a symmetrical triangle. This pattern signaled an approaching decisive move. We had the upper border of the pattern around the level $1.17 while the lower border was around the level $0.90. With the help of great news, WLD saw a strong breakout of the pattern upwards. The price of the coin tested $1.82, and the formation played out well.The range between the levels worked as both support and resistance in the past but now it has turned into a support zone once again. We can state that the next major resistance levels to follow are $2.61 and $3.74 if the price can hold above $1.61–$1.82.
To summarize, WLD had been trading inside a falling channel for a year and now it has broken above it. The mid-term general outlook is now positive as the upper border of the channel is behind us. Though we could see pullbacks down to the intermediate support levels, the general structure signals a bullish outlook.
These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
