Worldcoin (WLD) has updated its all-time high and is eyeing $10

Worldcoin reaches a new all-time high

The daily timeframe shows that WLD is growing parabolically. Over the past 11 days, the token has formed ten bullish daily candles. This growth coincided with the release of a new OpenAI product – the Sora neural network. This artificial intelligence (AI) model can generate videos of length from given text.

On February 19, the price of WLD broke through the ascending resistance line. During yesterday's fall, the price confirmed this level as support and rebounded (green icon). The upward movement today brought Worldcoin to a new all-time high of $8.48.

Source: TradingView

Daily relative strength index (RSI) supports price growth. The indicator is above 70 and moving up. These are all considered signs of a bullish trend.

Cryptocurrency traders and analysts on Platform X are positive about WLD's prospects. Thus, Nihilus_XBT noted a short-term breakout of the descending resistance line:

WLD/USDT chart. Source: X

Altcoin Sherpa suggests that the price will go lower first and then rebound.

“If the price goes down, watch the .382 Fib level. We should see a stronger rebound in $TAO and $WLD later,” he writes.

WLD forecast: how long will the growth last?

Elliott wave analysis on the daily timeframe indicates that Worldcoin will continue to rise. According to the most likely scenario, the price is in the third wave of a five-wave upward movement (white).

At the moment, the length of the third wave is almost 2.61 times greater than the length of the first. Thus, WLD is approaching the first resistance at $9.15 – a potential temporary top area. In case of a break above the $9.15 resistance, the token could rise another 40% and reach the next resistance at $11.85. Thus, the length of the third wave will be 3.61 times longer than the length of the first.

Source: TradingView

Despite the bullish outlook, Worldcoin's rebound from the $9.15 area could trigger a 22% fall to the nearest Fib support level at $6.45.

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