Worldcoin (WLD) cryptocurrency demonstrates price growth following a week of sideways action, driven by increasing popularity and network activity.
Reasons Behind WLD Price Growth
In the past 24 hours, the price of Worldcoin has risen nearly 12%, attracting traders' attention. The main reason for this surge is the increasing number of users, as over 238,000 new users were verified in just the past week. Additionally, the number of World App users rose by 456,000, bringing the total close to 34 million. Network activity is also high, with 15.7 million transactions recorded over the week.
Market Situation and Risks
The broader market is also positively influencing WLD growth, as the Altcoin Season Index surged 46% over the last month. However, the data remains mixed; WLD's 30-day performance showed a decline of 0.09%. Regulatory risks also remain significant, with China issuing a warning in August regarding biometric data, while EU investigations into data privacy are ongoing.
Technical Analysis and Price Forecast
Chart analysis shows a positive trend as the Worldcoin price bounced from the $0.90 demand zone and broke through the descending resistance line. The current price is holding above the 50 EMA, indicating strong support. An RSI level of 79 indicates strong buying pressure, suggesting a possible move toward the $1.40–$1.50 zone. However, should demand slow, a return to the $0.90 support zone may be likely.
In conclusion, the price growth of Worldcoin is supported by increasing user numbers and network activity; however, traders should consider regulatory risks and the rising token supply.
