- WLD’s 3-day WLD chart shows that sellers are exhausted and prices are ready for a surge.
- Past analysis of other indicators points to a rise above $3.
WorldCoin (WLD), the native token of the open-source digital identity platform, has shown signs that it is ready to trade at higher prices, crypto analyst Ali Martinez noted in a post on X (formerly Twitter).
According to Martinez, the Tom DeMarc (TD) Sequential flashed a buy signal on the 3-day chart of WLD. The TD Sequential is a technical analysis tool that identifies the exact period of trend exhaustion.
This is done by looking at the two-stage setup. One represents nine candlestick stages where you can spot a sell signal after the price has risen. I set up the other one using a 13 candlestick countdown.
In this case, buying signals are discovered after sellers are exhausted, and the same is true for Worldcoin.
At the time of publication, WLD was priced at $2.52, up 49.08% over the past 30 days.
Therefore, the signals shown in the technical setup mean that the token may be on the verge of saying goodbye to some of these losses. If this happens, the price of Worldcoin may reach $30.5 as its first target.
Another indicator that can help validate price growth is the cryptocurrency correlation with Avalanche (AVAX). Recently, AMBCrypto explained why the price of AVAX may continue to rise.
In this case, WLD can do the same thing. The evidence reflected in the correlation matrix was 0.96. This correlation matrix ranges from -1 to +1.
-1 or close to it means that the two cryptocurrencies are not moving in the same direction.
However, when the matrix is close to a +1 reading, it indicates strong directional movement. Therefore, price rises in AVAX and WLD are likely to occur in the short term.
Additionally, Worldcoin’s social dominance was assessed. According to Santiment, Worldcoin’s social dominance has jumped to 0.198%.
Social dominance refers to the proportion of discussions in the media that mention a particular asset or phrase. An increase indicates improved discussion about the project.
But a declining index means less talk about the asset. Historically, increased social dominance has helped create buzz that leads to increased demand.
Previously, this caused the WLD price to rise. This may be the case again. So the prediction of $3+ may be right. However, market participants need to be careful.
Is your portfolio green? Check out the Worldcoin profit calculator
If the discussion about Worldcoin becomes heated, social dominance may reach extremely high levels. This may indicate a local peak in price, indicating a possible correction.
However, if this does not happen, WLD could experience a notable uptrend in the coming weeks.