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Worldcoin (WLD) has seen a significant increase in daily trading volume, pushing its price to a new monthly high of $2.55. Over the past 24 hours, WLD has increased by 5%, emerging as one of the top performing cryptocurrencies on the market.
The bullish trend of Worldcoin (WLD) stems from the strong accumulation of smart investors since the beginning of the year and the broad market bias in favor of this altcoin. These factors have created the potential for further price increases in the short term. Here’s how:
Worldcoin Drives Higher Price From Smart Investors
TinTucBitcoin’s review of the one-day WLD/USD chart has shown a steady increase in the Token’s Smart Index (SMI) since the beginning of the year. At the time of writing, the index stood at 1.91, up 36% from December 31.
An asset’s SMI tracks the performance of experienced or institutional investors by analyzing market behavior during the first and last hours of trading.
When the index rises, this shows increased buying activity from these investors, signaling growing confidence in the asset. Conversely, when it falls, this indicates selling activity from these investors, signaling a lack of confidence or bearish anticipation.
Therefore, the steady growth in WLD’s SMI index since the beginning of the year reflects a cumulative increase among its experienced and institutional investors. This signals growing confidence in its future price performance, which has contributed to its current bullish trend.
Furthermore, the daily active address difference (DAA) index of the WLD price has shown widespread accumulation across the market for the token, fueling its current bull run.
This index, which measures the change in an asset’s price with the change in its number of daily active addresses, is currently at 52.73%. Like with WLD, a price increase combined with a positive DAA spread signals a bullish trend. It shows growing interest and the possibility of further price increases.
WLD Price Prediction: Uptrend Could Push Token To $3.25
On the daily chart, WLD is currently trading below the resistance formed at the $2.67 mark. If the current bullish trend is maintained, the Token could break above this barrier and rise to $3.25.
Conversely, if the WLD sell-off continues, this will put downward pressure on the price, driving the price down to $2.31. If this support fails to hold, the WLD Token price could fall further to $2.01.
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