Worldcoin (WLD) has seen an increase in its daily trading volume, propelling its price to a fresh monthly peak of $2.55. In the last 24 hours, WLD has risen by 5%, making it the best-performing coin in the market during this timeframe.
The positive push behind Worldcoin (WLD) originates from an increase in strategic investment by large-scale investors since the beginning of the year, as well as a general market preference towards altcoins. This combination has created ideal conditions for potential increases in the short term. In simpler terms, smart money is buying more WLD and the market seems to prefer altcoins like WLD, setting us up for possible gains soon.
Worldcoin’s Smart Money Push For Higher Prices
According to BeInCrypto’s analysis, the Smart Money Index (SMI) of WLD token has been consistently increasing since the start of the year. Currently, the SMI stands at 1.91, marking a 36% growth from its level on December 31.
A Statistical Measurement Indicator (SMI) monitors the actions of seasoned or institutional investors by examining market trends during the opening and closing hours of trades, thereby reflecting their influence on the market during these critical periods.
When the indicator goes up, it means these investors are becoming more active buyers, which often shows rising confidence in the value of the asset. On the other hand, if the indicator falls, it usually signals that these investors are selling, suggesting a pessimistic outlook or anticipation of decreasing prices.
As an analyst, I’ve observed that the significant increase in WLD’s Stock Market Indicator (SMI) since the beginning of the year is a testament to the increasing hoard among seasoned and institutional investors. This surge suggests a rising faith in its future price trajectory, which has undeniably played a crucial role in its current bullish trend.
Additionally, the increase in WLD’s token market-wide accumulation is underscored by the positive readings from the daily active address (DAA) divergence, which suggests that this upward trend could be fueling the current surge in the token’s price.
This measurement, which compares an asset’s price fluctuations to its daily active address count changes, is presently at 52.73%. Similar to WLD, a price surge coupled with a positive DAA divergence suggests rising optimism. It hints at growing interest and the possibility of additional price increases.
WLD Price Prediction: Bullish Momentum Could Propel Token to $3.25
As we observe on the day-to-day chart, the trading price for WLD is presently lower than the resistance level established at $2.67. Should the existing bullish trend persist, it’s possible that the token might surpass this threshold and head towards $3.25 for further gains.
Conversely, should WLD sales continue, it might lead to a decrease in its value, potentially causing it to dive down to $2.31. In the event that this support level does not withstand the pressure, the WLD token price may even fall lower to $2.01.
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2025-01-07 11:34