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Fresh Funding Fuels Momentum
Worldcoin (WLD) is showing powerful signs of a potential breakout, thanks to a blend of technical strength and fresh institutional backing. The token surged by 31% to reach a high of $1.63 during the early hours of May 23 (Asia time), marking a staggering 180% rise from its monthly low.
Fueling this bullish run is a sharp spike in trading activity. Spot volume increased by 160%, reaching nearly $1.3 billion, while derivatives volume exploded by 208% to $2.69 billion. According to CoinGlass, open interest climbed 48% to $427 million, a clear sign that investor confidence is returning.
The driving force behind this renewed interest? A major funding announcement from the Worldcoin Foundation. On May 21, the team revealed they had secured $135 million in capital to accelerate the development and adoption of their iris-based identity system, World ID.
The funding round attracted some of the most prominent names in the crypto venture capital space, including Andreessen Horowitz and Bain Capital Crypto. These firms not only led the funding effort but also purchased WLD tokens at market rates, reinforcing investor trust and enhancing liquidity.
World ID Gains Global Reach
Beyond the price action, Worldcoin’s broader ecosystem is showing signs of real-world traction. The project’s World ID system has expanded operations into the U.S., while Asia is experiencing rapid user growth.
Singapore leads the adoption race with over 100,000 registered users. Meanwhile, Japan and South Korea have seen more than 10,000 new signups each, just in April. Worldcoin has also extended its footprint into Southeast Asian nations, including Thailand, Indonesia, Malaysia, and the Philippines.
This expanding user base supports the notion that Worldcoin is not just riding on hype but also building a scalable infrastructure with real-world utility. The rise in daily active addresses and on-chain accumulation from large wallets further reflects growing conviction in the project’s long-term potential.
Chart Patterns Signal Breakout
Technical indicators suggest that Worldcoin may be on the verge of a major price breakout. On the daily chart (WLD/USDT), the token recently broke above the top of a rising wedge—a pattern often associated with bearish reversals, but in this instance, it flipped bullish.
WLD is now trading well above its 50-day simple moving average (SMA) and is approaching its 200-day SMA—a strong sign of upward momentum. Notably, the price has also turned the 200-day exponential moving average (EMA) into support, a key bullish signal.
Momentum indicators like the MACD are turning upward, confirming that buying pressure is still building. The Relative Strength Index (RSI) is nearing overbought territory, indicating that a short-term consolidation or minor correction could occur before the next leg up.
Adding to the bullish narrative is a developing Cup and Handle pattern on the daily chart. With the cup’s base near $0.58 and the neckline at $2.50, a successful breakout from this structure could propel the token well beyond current levels.
Price Target and Risk Levels
Based on the current technical structure and market sentiment, analysts are setting their sights on the $2.50 level as the next major resistance—representing a potential 60% upside from the current price of $1.55. If WLD can break through this psychological level, it could spark a wave of FOMO-driven buying and lead to a test of the 78.6% Fibonacci retracement level at $3.
However, traders should also be cautious. If the bullish momentum falters and WLD dips below its 200-day EMA at $1.479, the next key support lies near $0.97, which aligns with the 200-day SMA. A failure to hold this level could reverse recent gains and place WLD back in a longer-term consolidation phase.
Still, the fundamentals, market sentiment, and technical signals all point to a strong probability that Worldcoin could continue to climb, particularly if broader crypto markets remain bullish and adoption of the World ID continues to accelerate globally.
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