The token native to the World project (formerly known as Worldcoin), WLD, has appreciated in value after the launch of a pilot for its World ID Passport Credential, November 29, 2024. The token rallied by 19% over the past 24 hours, hitting a five-month high at $3.03, before it dipped back to remain near $2.88. With daily trading volume on the upswing by 122 percent over the past 24 hours, WLD has added additional fuel to the rally, and the market capitalization now stands north of $2 billion.
Under the new pilot program, users of NFC enabled passports in these countries, including Chile, Colombia, Malaysia, and South Korea, can now link to their personal WorldID account. By doing so participants are able to claim WLD tokens without going through the typical in-person Iris scan through the Orb device. The feature is currently available only for iOS platforms.
WLD Futures Open Interest Surges Amid Rally
CoinGlass data shows open interest in WLD futures jumped 21.8 percent to $418.31 million with the announcement. A key driver behind the token’s recent rally has been heightened demand among traders.
Bullish sentiment has been ignited by the pilot program among cryptocurrency analysts and the sentiment is that WLD may be able to climb as much as $12 or even higher. Several technical patterns that support the upward trajectory of the token have been pointed out by analysis.
CryptoBull 360, a prominent pseudo-anonymous analyst, noted that a WLD 4 hourly price chart has formed an ascending triangle, indicating a likely breakout above the range of resistance between $2.8 and $3. Looking ahead, such a move could provide you with over 50% in gains in the near term, according to CryptoBull_360.
Trader Han Ji Ahn, also noted a multi-month cup and the handle look pattern, a bullish signal that could put WLD in position to rally to $12 within months and even to $20.
WLD’s 24-hour trading chart indicates the token trading above the upper Bollinger Band, suggesting continued buying pressure. Now the Relative Strength Index (RSI) is 65, so it appears the token is not overbought just yet. The direction of this trend was shown to be very strong, as indicated by the Average Directional Index, or ADX, at 27.
Now, as Bitcoin fights to break past resistance cages at $100,000, it looks as if an opportunity is for investors to focus on altcoins such as WLD. If this dynamic continues, it should only strengthen the token’s uptrend.
WLD is becoming a phenomenon in the altcoin market after its World ID Passport Credential pilot launch and after the growing amount of interest in its ecosystem. On the other hand, if the bullish patterns hold, the token can move quite high in the weeks to come, and it depends on the key resistance levels and market sentiment.
The real game behind the operation of this token is dependent on the outlook (bullish or bearish).
