- Worldcoin hit a new all-time high, sparking bullish euphoria.
- Some short-term price volatility is expected before profits are realized.
Worldcoin (WLD) met the predictions of the AMBCrypto report in the last week of February, reaching $10 and thereby setting a new ATH.
At press time, the next target was just above $11, but Fibonacci extension levels showed the price could go much higher than that.
Technical analysis shows that the uptrend was so strong that WLD’s downtrend from a week ago was cut short. Buyers were eager and confident, reinforcing the idea that prices would rise.
Divergences and pullbacks were part of an upward trend.
Source: WLD/USDT on TradingView
Fibonacci retracement and extension levels (light yellow) show that WLD has surpassed the local high of $9.45 after retracement 50% at $5.8 a few days ago.
This decline occurred after a one-day bearish divergence (orange) was seen between the WLD price and the RSI momentum indicator.
Further south, there was a strong demand zone in the $4 area with a bullish blocking block (turquoise) and a confluence of the fair value gap (white).
The fact that the WLD bulls did not wait until now to head back south was a powerful assertion of their overwhelming power.
It is expected to reach $13.30 soon, but 61.8% and 100% expansion levels of $13.96 and $16.74 are also targets for the coming days and weeks.
Buy liquidation levels are greater than sell positions
Source: Hiblock
AMBCrypto’s liquidation level analysis shows that the cumulative liquidation level delta over the past 6 hours is heavily in favor of the bulls.
This is accompanied by a rapid surge in price, indicating that speculators are taking long positions to profit from this movement.
The next major liquidation level is estimated to be in the $11.04-$11.09 region, which would result in liquidation of approximately $14 million in short positions if WLD price tests that level.
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Meanwhile, if the price falls to $9.77, $10 million worth of highly leveraged long positions will be liquidated.
This raises the possibility of near-term volatility before the token’s value rises above $13.30.
Disclaimer: The information presented does not constitute financial, investment, trading or any other type of advice and is solely the opinion of the author.