- Worldcoin was testing a big horizontal level at the time of writing, which was the low back in 2023.
- A trade on WLD could present some upside as Open AI’s “At Last” meeting in San Francisco nears.
Worldcoin [WLD] reached its essential horizontal resistance, at $0.96 with the point marking a major low in 2023.
This area served as hesitation territory for WLD following a strong rally since price attempted to enter but failed just below $0.9683.
If WLD confirms a breakout coupled with daily closing above this particular zone, it might create additional upward momentum but need indications for higher timeframe pattern shifts.
The next vital barrier for continuation was at $1.15, yet future progress depended on the rally’s ability to maintain its strength.
Source: TradingView
The existing resistance level may trigger short-term price contraction. However, bulls may recover their confidence through another check of the $0.88 up to $0.90 area.
This move strengthened due to rising buy volume, despite not witnessing any explosive trading activity.
Price consolidation above $0.96 could result in a bullish momentum shift if the lower boundaries of the consolidation stayed higher than $0.96.
Failure to defend this essential area would potentially drive WLD prices down towards $0.80 and lower. The community showed caution as $1.15 needed a powerful breakout to confirm continuation.
WLD trade count size and profitability
On top of that, transaction data showed growing investor engagement across both retail and institutional brackets.
The transactions surges were most prominent within the $10k–$100k (+89.01%) bracket and the $100k–$1M (+78.57%) bracket and the $1M–$10M (+100%) bracket, although there was a decrease in transactions under $1 by -41.38%.
The high-value traders and whales were coming back to possibly start a bigger upward move.
The growing mid-tier activity level contributed to +13.48% increase in $1k–$10k section and +30.43% increase in $100–$1k transactions.
Source: IntoTheBlock
These sharp increase precedes both market volatility and price movement patterns, although it did not serve as a specific indicator of Worldcoin value fluctuations.
At press time, 60.72% of WLD holders were at breakeven, while 3.36% sat in profits, and 35.92% recorded losses.
WLD’s price action remained particularly sensitive around breakeven levels, given the large pool of price-reactive holders and few profit-takers.
Future price movement for WLD remained unclear, as the market could either sustain its volume or experience spontaneous and swift spikes in the following weeks.
How will Open AI event impact WLD
Worth noting, the “At Last” event in San Francisco to be hosted by Sam Altman from OpenAI had the potential to drive growth.
Such events drove market up previously for instance, Avalanche [AVAX] and Near Protocol [NEAR] in 2022 and 2023, respectively.
The Worldcoin token could serve as the payment mechanism if OpenAI developed its future social platform, according to recent industry speculation.
The “At Last” event may cause Worldcoin to surpass the $1 level if it verified the speculation about a new cryptocurrency social platform launch.