- Worldcoin’s expansion into Europe has accelerated WLD adoption, leading to a 13.6% increase in price this week.
- Technical indicators are signaling a potential bullish breakout, with possible targets around $2.00.
Worldcoin [WLD] has experienced notable price activity in the past week, attributed to heightened adoption and significant market shifts.
WLD was trading at $1.60 as of the latest update, with a 24-hour trading volume of $280,038,161.98.
This represents a 9.30% rise in the last 24 hours and a 13.60% gain over the past week, with a circulating supply of 450 million WLD and a market cap of $723,470,515.
European expansion drives World ID adoption
Worldcoin recently rolled out a major expansion of its World ID verification services in Europe, starting with the launch in Poland on September 18. As per the official announcement,
“World ID verification has been introduced in Poland,” enabling residents to verify their World ID in Warsaw with a specialized biometric device known as the ‘Orb’.”
This initiative aligns with Worldcoin’s mission to enhance access to its proof of humanness technology across Europe.
The project had previously introduced similar World ID verification services in Austria and collaborated with Malaysia’s governmental R&D team to promote digital proof of humanness in that region.
These efforts form a part of Worldcoin’s broader objective to establish a global, decentralized identity verification framework, encouraging higher adoption and involvement in various locales.
Technical indicators indicate potential gains
WLD’s technical indicators also suggest a strong potential for a bullish breakout. The price is nearing a key resistance level of $1.590, which acts as the neckline for a rounding bottom pattern.
A successful breakout above this level would validate the bullish reversal, implying a shift in momentum towards the bulls, with the subsequent target placed at $2.000.
Source: TradingView
At the time of reporting, the Relative Strength Index (RSI) was recorded at 66.30, reflecting strong buying activity but nearing overbought conditions. This indicates a potential for a short consolidation phase before any significant breakout.
If the price does not manage to surpass $1.590, a minor pullback could occur, but the overall bullish structure remains valid above the rounding bottom formation.
Positive net inflows and transaction activity
Market data indicated a positive net inflow into WLD, with $1.87 million entering the asset as of September 19. This uptick in inflows points to buying pressure, which could support price stability and potential upward trends.
Source: Coinglass
Nonetheless, the total transaction volume has shown a downward trend in recent days. On September 18, the volume was recorded at 3.61 million WLD, declining from a high of 9.15 million WLD on September 12.
Check out Worldcoin’s [WLD] Price Prediction for 2024–2025
This decrease reflects a decline in trading activity, possibly suggesting market caution or a phase of consolidation as traders await clearer price movements.
Source: IntoTheBlock
In summary, Worldcoin’s expansion in Europe, positive technical indicators, and favorable market data all indicate rising interest and activity, contributing to its recent price increase.
