WLD token related to Sam Altman is today's top gainer. This altcoin is trading at $1.53, recording a 25% price increase over the past 24 hours. However, shortly after, the cryptocurrency market experienced a collective decline due to Trump's tariff remarks, dimming the light of its rise.
This price increase is due to a capital injection of $135 million into the project. This demonstrates strong institutional confidence in Worldcoin's long-term prospects and has reignited retail investors' interest.
WLD Shifts Momentum After $135 Million Investment... Further Rise?
On May 21st, Worldcoin announced a $135 million capital injection. This was led by venture firms a16z and Bain Capital Crypto directly purchasing WLD tokens. This triggered substantial buying momentum across the market, and WLD's price reached a three-month high of $1.64 on Thursday.
WLD has since experienced a slight adjustment and is currently trading at $1.53, but the bullish sentiment remains solid. This can be confirmed on the token's Awesome Oscillator daily chart.
The current momentum indicator shows green, with the histogram bar recording a value of 0.195. This represents the second consecutive positive momentum after seven days of red bars.
The Awesome Oscillator helps identify potential trend changes by comparing the asset's current market momentum with long-term momentum. When showing green histogram bars and positive values, it indicates strong current momentum and increasing bullish sentiment.
This suggests that WLD's price could continue rising, offering potential buying opportunities for market participants.
Additionally, WLD's daily trading volume continues to surge, indicating that the price increase is supported by actual token demand. Currently, the trading volume of this altcoin has increased by 159%, exceeding $1 billion.
When an asset's price and trading volume rise simultaneously, it indicates strong market interest and increased demand. This trend suggests that WLD token's price increase is supported by conviction.
WLD Breakthrough, Potential January High... Profit-Taking Variable
WLD's double-digit rise has transformed the price from a resistance level at $1.42 to a support level. With increasing demand and this price support strengthening, the altcoin could extend its rally to $1.95, last reached on January 27th.
However, the resumption of profit-taking activities would invalidate this bullish outlook. If selling resumes, WLD could lose its recent gains and test the $1.42 support level. If it fails to maintain this support level, it could lead to a further decline to $1.18.
