Worldcoin Price Analysis: Could Worldchain Fuel a Bullish Reversal?

The post Worldcoin Price Analysis: Could Worldchain Fuel a Bullish Reversal? appeared first on Coinpedia Fintech News

Following the rebranding of Worldcoin to World, the token’s price has dipped by ~4% in the past 24 hours. Despite this short-term decline, crucial updates such as the unveiling of Orb 2.0 and the release of the Worldchain Layer-2 blockchain suggest that WLD may be positioning itself for a strong bullish reversal in the near future.

With rising uncertainty in the broader crypto market, is now the time to hold WLD tokens? Could the Worldchain update act as a catalyst for future price rallies of this promising altcoin?

WLD Price Records Increased Price Volatility!

With a 24-hour trading volume of $343.011 million, the Worldcoin price has dropped ~1%. However, it has jumped 17.56% over the past week and 53.61% during the past 30 days. This highlights a rising bullish sentiment for the altcoin in the market.

TradingView: WLD/USDT

From a longer-term perspective, the WLD crypto token has formed a descending channel pattern and has been trading within it since July. moreover, with a market cap of $1.220 billion, it has secured the 62nd position in the global crypto list.

What’s New In Worldcoin!

The Worldcoin is a “Proof-of-Humanity” project and has reportedly been rebranded as World. Recently, it has launched a Layer-2 (L2) blockchain built on the Ethereum chain. The official statement about the update was released on 17th October.

Moreover, with this update, 15 million users who have verified their identity by scanning their “Iris” from the “World ID” can now have access to this network. The network aims to improve efficiency by introducing new functionality for its users.

With a unique approach of prioritizing its verified “human” users over “bots”, it plans valid and authorized users access to the space and an allowance of free gas on the network.

Will WLD Price Retest $3 This Q4?

If the market favors the bulls, the Worldcoin price will break out of its channel trend pattern and retest its resistance level of $3.30. Moreover, with the potential ignition of an Altcoin season, this project could further head toward its 4-month high of $5.330.

On the negative end, if the new update faces some setback, this could potentially result in the Worldcoin price plunging toward its crucial low of $1.350 during the upcoming time.

Wondering about the future of this altcoin, Read our Worldcoin (WLD) Price Prediction 2024 – 2030 to uncover your doubts!