Bears have recently taken full control of the crypto market, suppressing the prices of several leading digital assets including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), Cardano (ADA), and many others.
Nonetheless, a handful of tokens have managed to stay in green territory, among them Worldcoin (WLD).
What’s next?
A few hours ago, the token’s price briefly rose above $0.55, reaching its highest level since January. Later, it returned to the current level of $0.48 (according to CoinGecko), which represents an increase of 60% on a weekly basis. Its market capitalization exceeded $1.6 billion, making WLD the 51st largest cryptocurrency.
The main catalyst for this rally may be recent whale activity. BSCN
User Other popular analysts who contributed include Altcoin Sherpa and Crypto Catalysts.
The former envisioned a rise to $0.65 if “BTC remains stable,” while the latter noted the asset’s impressive performance amid the recent crypto massacre and predicted a potential rise to $2.
For his part, Arthur Hayes – co-founder of BitMEX and CIO of Maelstrom – set a future price target of $10. He then described the token as a “shitcoin” that is “going to the moon” solely because of its connection to emerging artificial intelligence (AI) technology.
Towards the south?
It is important to note that WLD’s solid price increase may also be followed by a pullback, considering how quickly the upward movement occurred. Its Relative Strength Index (RSI) is the exact technical analysis tool that highlights this risk.
Recently, it rose above 70, meaning the asset has entered overbought territory and could be on the verge of a correction. The index ranges from 0 to 100, and conversely, anything below 30 is considered a bullish sign.
Meanwhile, some analysts have not been so kind to Worldcoin. X user Ryker described it as a “dead project” that only follows NEAR due to the AI trend. They don’t expect much from WLD, saying the team behind it “does nothing.”
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