Worldcoin Price News: WLD Could Rise to $2.8 After Launch of Orb Mini

WLD has risen by 80% in the past month and currently stands at $1.54. Meanwhile, trading volumes in the past 24 hours have more than doubled and have produced 14.8% gains to the token during this same period.

Two days ago, the project revealed that it raised $135 million recently from multiple venture capital firms including Bane Capital and a16z through the sale of WLD tokens.

According to its latest stats, more than 26 million users have joined the World network while nearly half of that group has verified their “ unique humanness” by using one of the project’s orbs.

To make its ID verification easier, Worldcoin launched the Orb Mini on April 30 during a conference called “At Last”. This is a new device that was presented to the public following the project’s official launch in the United States.

U.S. users who verify their identities through the Worldcoin mobile app will get 150 WLD tokens.

WLD Breaks Out of Rising Wedge

All of the hype associated with the U.S. mobile app rollout, the launch of this new Orb, and the latest fundraising have caused this recent uptick in the price of WLD.

Despite the rally, the token has still delivered year-to-date losses of 27.1% as this recent recovery has not yet managed to overturn the losses caused by the post-Trump-election bear market.

Worldcoin’s daily chart shows that a mild rising wedge has been forming in the past month. The price action broke above this technical setup yesterday with strong volumes, meaning that the uptrend could be accelerating.

Today’s gains have been much lower, but volumes have already doubled the daily average despite a muted price move.

This indicates accumulation and could anticipate a much more drastic upward move, especially after such a strong breakout.

Key Levels to Watch for WLD

If the price does pull back, the key area of support to watch would be the token’s second-best higher high at around $1.30 per token.

However, if the rally keeps going the price could rise to $2.8 based on the wedge’s height – which is often used as a reference to project how high the price could go. This implies a 115% gain ahead for WLD.

As momentum seems strong for the project following this wave of good news and market sentiment is extremely supportive, this ambitious target is not necessarily as far-fetched as it may sound at first glance.

Heading to a lower time frame, the 1-hour chart shows that WLD respected its former trend line resistance and has now turned this area into support.

This is bullish as well, especially as a bounce off this level triggered a bug upward move, meaning that liquidity at that price point ($1.45) is quite high.

The key resistance to watch in this lower time frame is the $1.60 – $1.65 level, from which the price retreated strongly the last time. A bullish breakout above this area could lead to strong gains in the near term as it would likely blow up a significant volume of stop orders along the way.