Posted: November 12, 2024

• WLD has gained more than 30%, rebounding strongly from its $1.5 support level.
• Surging whale and trading activity indicate bullish momentum, positioning its for gains beyond the $2.5 resistance.

Worldcoin [WLD] has shown incredible market strength as it becomes one of the top performers in the crypto space. The altcoin has staged an impressive 30% recovery from its $1.5 key support level.

Commanding a price of $2.14 at press time as per CoinMarketCap data, Worldcoin’s trajectory has caught the attention of market participants across the board.

Behind the Worldcoin surge…

WLD rally was not just about the price action; positive on-chain and fundamental metrics also had their say. As of this writing, WLD’s trading volume has skyrocketed to $670 million, notably marking a stunning 68% increase in the last 24 hours alone.

This surge in activity indicates growing market confidence and participation.

As per AMBCrypto’s analysis of the IntoTheBlock data, the most outstanding indicator is the significant 366% spike in whale activity.

Historically, when crypto whales make waves, the market tends to follow.

In the case of WLD, 366% of large transaction activity indicates that big players are re-entering the market, potentially signaling their confidence in WLD’s price trajectory.

Source: IntoTheBlock

Concurrently, the trading volume has risen, reinforcing these positive sentiments. WLD’s 31% increase in the number of its active addresses aligns with impending price movements. The surging trading activity typically injects volatility and upward pressure.

As a result of increased volatility and bullish pressure, WLD prices could rally further to target $2.5 or a higher resistance zone.

Source: IntoTheBlock

Liquidation pool insights

That’s not all, the substantial liquidation pool of 632K worth of WLD positioned at the $2.33 price level adds more bullish bias.

This liquidation pool may act as a price magnet to pull Worldcoin’s price higher in the short run.

What is ahead for WLD?

The convergence of these bullish signals—surging whale activity and trading volumes, and strategic liquidity positioning—creates a compelling case for Worldcoin’s continued rally. 

Realistic or not, here’s WLD market cap in BTC’s terms

With momentum firmly on its side, Worldcoin appears well-positioned to challenge the $2.5 resistance level. 

A successful breach could open the door to unexplored price territories, marking a new chapter in WLD’s market narrative.