When you buy through affiliate links in our content, we may earn a commission at no extra cost to you. Learn 
Amid a bullish surge, Worldcoin hits $6.17, sparking widespread interest. Trading volumes exceed $626 million, signaling robust market engagement.
Worldcoin experienced a notable rally, increasing by 7.70% on May 6 to reach a trading price of $6.17. This surge places Worldcoin at #69 on CoinMarketCap, with a market capitalization nearing $1.24 billion.
With over 203 million WLD coins in circulation against a maximum supply of 10 billion, Worldcoin’s trading volume has surged to over $626 million in the same period. Many investors seek accurate Worldcoin price predictions as interest grows to gauge future movements.
Worldcoin Surges in Trading and Short Interest
Worldcoin (WLD) has seen significant gains, leading the charge among the top 100 cryptocurrencies, buoyed by a bullish market. Recent data from Santiment reveals a sharp 21.5% rise in Worldcoin’s total open interest in just one day, jumping from $131.9 million to $160.3 million. This increase in trading activity and open interest points to an expected rise in price volatility, influenced by large-scale trades and possible liquidations.
Market insights further suggest a shift in trader behavior. The total WLD funding rate across exchanges fell dramatically from 0.008% to just 0.001% in 24 hours, indicating a rise in short positions—traders betting against the price as it climbs.
Key Observations:
- Open interest in WLD rose by 21.5% day-over-day.
- A significant shift toward short positions despite the price rally.
- The net outflow of 87,980 WLD from exchanges suggests that some are stockpiling the coin despite bearish signals.
The WLD Relative Strength Index (RSI) also increased from 40 to 54, suggesting the asset is slightly overvalued. A lower RSI could indicate a potential for price stabilization.
Worldcoin Price Prediction
The pivot point for Worldcoin stands at $6.16, marking a critical juncture in its trading pattern. A look at the resistance and support levels suggests potential future movements. Immediate resistance is $6.56, followed by higher resistances at $7.27 and $8.00. On the downside, initial support is $5.02, with further supports at $4.20 and $3.66. These levels are crucial for traders to watch, as they could indicate significant price movements.
From a technical standpoint, the Relative Strength Index (RSI) for Worldcoin is currently at 58, indicating a moderately bullish momentum without reaching overbought territory.
The price has recently surpassed its 50-day Exponential Moving Average (EMA) of $6.16, which historically acts as a dynamic support level. The daily chart shows that Worldcoin has completed a 38.2% Fibonacci retracement at around $5.80. The subsequent bullish break through this level propelled the price toward the 50% retracement level, which it is currently holding at $6.57.
Moreover, a bullish, engulfing candlestick pattern has formed, further endorsing the potential for an upward trajectory. This pattern and the RSI level support a bullish outlook in the near term. Traders should observe the $5.88 level, as a sustained break above this could confirm the continuation of the current uptrend and possibly expose the price to the 61.8% Fibonacci retracement level or higher.
In conclusion, the technical analysis for Worldcoin is bullish as long as the price remains above the pivot point of $6.16.
