to leave a comment.
▲ Worldcoin (WLD) / Source: X ©
Worldcoin (WLD), which has brought news of successive collaborations with global mobile applications and video conferencing platforms, is proving the value of its human verification network and seeking a full-fledged price rebound.
According to FXStreet, an investment media outlet, on May 21 (local time), Worldcoin (WLD) rose more than 3% as of Thursday, surpassing the $0.2500 mark. This continued the 4% upward trend recorded the previous day, showing a successful rebound from the main support trendline. The news that the World Network recently partnered with global platforms such as Tinder and Zoom and introduced new tools to the European market is believed to have stimulated expectations for global demand expansion, boosting investor sentiment.
In fact, the World Network collaborated with dating app Tinder to launch an early pilot service of 'Human Badge' in Shibuya, Japan. An authenticated World ID is essential to obtain this badge on Tinder, and the media predicts that this will significantly restrict the activity of bots or non-human accounts on the platform. Video conferencing platform Zoom also joined hands with the World Network to prevent the spread of deepfakes and clearly verify identities. In addition, the Concert Kit tool, which has completed pilot operations in Latin America and San Francisco, is also making its full entry into the European market, and will be used to allow only authenticated genuine fans to book tickets for the famous band 'THIRTY SECONDS TO MARS'' 2027 UK and Germany tour.
From a technical perspective, WLD has shown an upward trend for two consecutive days, solidifying its rebound from the downward support trendline. On the daily chart, a descending wedge pattern with lower price highs is forming, and the current descending trendline at $0.2802 is limiting the short-term upward momentum. Although the short-term price remains below the 50-day Exponential Moving Average (EMA) of $0.2713 and the 200-day EMA of $0.4689, maintaining a short-term bearish bias, signs of bottoming out are being detected in various places.
Currently, the daily Relative Strength Index (RSI) is consolidating around 49, indicating a stabilization phase of momentum rather than a full transition to a bull market. However, despite the price decline, the RSI indicator shows a steady upward positive divergence, sending a typical technical rebound signal. At the same time, the Moving Average Convergence Divergence (MACD) is also on the verge of forming a bullish golden cross with the signal line, suggesting that market selling pressure is gradually diminishing.
Consequently, WLD's future direction depends on whether it breaks through the overhead resistance lines. The primary technical barrier is around the 50-day EMA of $0.2713, and if it surpasses this, the $0.2802 line, the breakthrough point of the downward trendline, is expected to act as a key resistance zone. The media analyzed that WLD must decisively break through this resistance zone based on the daily closing price to break the long-term downward trend, after which the upward door will open to the final hurdle, the 200-day EMA of $0.4689. Conversely, on the downside, if the support trendline around $0.2246 breaks, there is a risk of entering a new downward channel, requiring caution.
*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*
Newsletter
Get key news delivered to your email every morning
to leave a comment.