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- WLD’s 3-day chart revealed that sellers were exhausted, and the price looked ready to jump.
- Historical analysis of another measure suggests a rise above $3.
Worldcoin [WLD], the native token of the open source digital identification platform, has shown signs of being ready to trade higher. Cryptocurrency analyst Ali Martinez mentioned this in a post on X (formerly Twitter).
According to Martinez, the Tom DeMark (TD) Sequential indicator on WLD’s three-day chart has shown a buy signal. The TD Sequential indicator is a technical analysis tool that identifies the exact period of trend exhaustion.
It does this by looking at a two-stage setup. The first stage represents a 9-candle phase where a sell signal can be detected after prices rise. He created the other phase using a 13-candle countdown.
In this case, it is Buy signal detected After sellers were exhausted, this was the case with Worldcoin.
Source:X
At press time, WLD’s price was $2.52. This represents an increase of 49.08% over the past 30 days.
Therefore, the signal shown in the technical setup indicates that the token may be about to be fired. Goodbye to some of these lossesIf this happens, Worldcoin price could reach $30.5 as the first target.
Another metric that can help validate the price increase is the cryptocurrency’s correlation to Avalanche [AVAX]. Recently, AMBCrypto to explain Why might AVAX price continue to rise?
If so, WLD might do the same too. certificate Reflected In the correlation matrix which was 0.96. This correlation matrix ranges from -1 to +1.
When it is -1 or close to it, it means that the two cryptocurrencies are not moving in the same direction.
However, when the matrix approaches +1 reading, it indicates a strong directional movement. Therefore, seeing a rise in AVAX and WLD prices is something that could happen in the near term.
Furthermore, we evaluated Worldcoin’s social dominance. According to Santiment, Worldcoin’s social dominance jumped to 0.198%.
Social dominance shows the share of discussions in the media that refer to a particular etymology or phrase. When it increases, it means that discussions about the project have improved.
However, the decline in the scale means that conversations around the asset are declining. Historically, A High social dominance It helps create buzz that leads to high demand.
Source: Santiment
On previous occasions, this has led to higher WLD prices. This time, it could be the same. Therefore, a prediction of $3 or more may correspond exactly. But market participants need to be careful.
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If the discussions around Worldcoin become heated, social dominance could reach a very high level. This could represent a Local Summit For the price, indicating a possible correction.
However, if this does not happen, WLD stock could see a significant rise in the coming weeks.
