Could Worldcoin price shoot up 45% ahead of OpenAI’s live stream on Monday?

Source Fxstreet
  • Worldcoin price eyes a quick 45% rally in anticipation of OpenAI’s live stream on Monday.
  • WLD needs to clear $6.70 hurdle before it can climb up to $8.55. 
  • A daily candlestick close below $4.22 support level will invaldiate the bullish thesis for the AI-based token.

Worldcoin (WLD) price has formed a double bottom around a key support level, suggesting a potential accumulation. If the OpenAI’s Monday live stream has a positive impact on Artificial Intelligence (AI) field, it could positively impact WLD and other AI-based tokens. 

Also read: Arkham price primed for a recovery rally ahead of OpenAI’s announcement

Worldcoin price ready to move higher

Worldcoin price has set up a double bottom above the daily support level of $4.22. This technical formation comes after a 70% crash between March 10 and April 13, suggesting a bottomming of the downtrend and a potential reversal.

Worldcoin price has breached the $5.62 and came close to hitting its initial target of $6.70. But due to the overall market conditions, WLD retraced and is currently hovering around $5.62. If Bitcoin (BTC) price climbs higher, altcoins including WLD could see an upthrust that tackles the $6.70 hurdle. 

Considering that the Relative Strength Index (RSI) and Awesome Oscillator (AO) are both bounce off their respective mean levels, overcoming $5.62 could propel Worldcoin price to the next key hurdle of $8.55. In total, this move would consitute a 45% gain for WLD holders. 

WLD/USDT 12-hour chart

WLD/USDT 12-hour chart

On the contrary, if investors decide that the OpenAI announcement is a not a big deal, it could suck the buying pressure out, causing Worldcoin price to slide lower. If WLD produces a daily candelstick close below $4.22 it would create a lower low and invaldiat the bullish thesis. In such a case, Worldcoin price could crash 35% and revisit the $2.71 support level. 

Read more: Worldcoin’s four buy signals hint at a reversal rally

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
US Sept. PCE Preview: Inflation May Heat Up Again, How Will US Stocks, the Dollar, and Gold React?This Thursday (October 29), the US will release the September Personal Consumption Expenditures (PCE) price index. However, since the PCE report will be released after the Federal Reserve
Author  TradingKey
8 hours ago
This Thursday (October 29), the US will release the September Personal Consumption Expenditures (PCE) price index. However, since the PCE report will be released after the Federal Reserve
placeholder
Brent's $115 front month sits $4.6 above January — the $14 spread to WTI is the supply-risk premiumDecember Brent trades at $115.29 while January is $110.71, a $4.58 backwardation. The December Brent-WTI spread is $14.2, versus a $3-5 normal. That gap, not the headline, is where the Middle East supply risk is priced. Here is what the curve says, why the December contract's expiry on October 30 will mechanically cut the headline by $4.6, and the 108.81 neckline that decides the next move.
Author  Irene Q.
12 hours ago
December Brent trades at $115.29 while January is $110.71, a $4.58 backwardation. The December Brent-WTI spread is $14.2, versus a $3-5 normal. That gap, not the headline, is where the Middle East supply risk is priced. Here is what the curve says, why the December contract's expiry on October 30 will mechanically cut the headline by $4.6, and the 108.81 neckline that decides the next move.
placeholder
Bitcoin is back above $80,000 — but 75% of the bounce was shorts, not buyersBitcoin trades at $80,669, back above the $80,000 line after touching $79,145 on October 24. But 75.4% of the last 24 hours of futures liquidations were shorts, CME open interest fell 36,545 BTC in October, and spot ETFs lost $773.5 million on October 22-23. Price is up; positioning is down. Here is why the bounce is a squeeze, and the four things that would make it real.
Author  Suzie
12 hours ago
Bitcoin trades at $80,669, back above the $80,000 line after touching $79,145 on October 24. But 75.4% of the last 24 hours of futures liquidations were shorts, CME open interest fell 36,545 BTC in October, and spot ETFs lost $773.5 million on October 22-23. Price is up; positioning is down. Here is why the bounce is a squeeze, and the four things that would make it real.
placeholder
Gold rises above $4,050 ahead of Fed rate decisionGold price (XAU/USD) jumps to around $4,065 during the early Asian session on Wednesday, bolstered by lower oil prices. Traders await the Federal Reserve's (Fed) policy meeting later on Wednesday for signals on ‌the future path of US interest rates.
Author  FXStreet
17 hours ago
Gold price (XAU/USD) jumps to around $4,065 during the early Asian session on Wednesday, bolstered by lower oil prices. Traders await the Federal Reserve's (Fed) policy meeting later on Wednesday for signals on ‌the future path of US interest rates.
placeholder
Fed October Rate Decision Preview: Rate Hike Pause Has Become Consensus, How Will US Stocks, Dollar, and Gold React?The Federal Reserve will announce its October interest rate decision at 14:00 Eastern Time on October 28, and Fed Chair Warsh will hold a press conference at 14:30. Markets currently wide
Author  TradingKey
Yesterday 10: 21
The Federal Reserve will announce its October interest rate decision at 14:00 Eastern Time on October 28, and Fed Chair Warsh will hold a press conference at 14:30. Markets currently wide
goTop
quote