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Worldcoin Attracts Significant Gains—Will WLD Price Make It to $5 This January?
The cryptocurrency market has been witnessing some extraordinary moves lately, with numerous assets making substantial gains. Among these is Worldcoin (WLD), which has attracted significant gains in the recent past. In this article, we will explore whether this upward trajectory can continue and if the price of WLD will reach $5 by the end of January.
Worldcoin’s Price Action
The WLD price surged above its consolidation period after a long time. This sudden upsurge suggests that the bulls are determined to reclaim the double-digit figure, with $4 being the first pitstop. Despite the initial rejection at $4.2, which led to over 50% of its gains getting erased, it’s important to acknowledge that the WLD price is showing signs of life once again.
Recent Developments
The recent change in market dynamics has been observed, keeping whales more vigilant regarding price action. According to Santiment data, millions of WLD have moved from exchanges such as Binance and Okex, which could be a bearish sign for the token’s price. Transferring tokens back into these exchanges might cause a potential sell or swap action, potentially hindering the bulls’ efforts.
Technical Analysis
The support base at $2 has been found to be extremely strong, providing an opportunity for the price to bounce back and potentially head towards $3. This region could prove crucial in determining the next course of action for the WLD price. If buyers can successfully manifest strength within this range, it’s possible that we may see a discovery phase beyond $4.
In this scenario, there is no strong resistance expected above this level, allowing the price to potentially climb higher. A break above the 2024 highs at $4.16 could be a significant catalyst in achieving levels above $5. While this prediction seems ambitious, it’s essential to acknowledge that market trends can change rapidly.
Conclusion
In conclusion, while there are some bearish signs emerging in the form of tokens being transferred back into exchanges, the fundamental strength displayed by Worldcoin (WLD) warrants attention. As we move forward, it will be crucial for buyers to demonstrate their resolve within the $2-$3 range and above $4. If this happens, a discovery phase beyond the current highs could lead to an astonishing upward trajectory, potentially even reaching $5 or higher.
It is essential to remember that cryptocurrency markets are inherently unpredictable and subject to changes in sentiment. As such, investors should maintain caution while considering any investment decisions based on this information.
Source: coinpedia.org
