#KnowYourToken - Worldcoin 📢
Current Price: $2.37
Market Cap: $619 million
1W Trading Volume: $1.92 billion
Percentage change in Price (1W): -12.5% (+8.5% in past 24H)
Any News Around the Token:
Tools for Humanity, a key contributor to the Worldcoin project co-founded by OpenAI CEO Sam Altman, has appointed four former executives from Apple, Google, Meta, Tesla, and X to strengthen its privacy, security, hardware, and digital ID divisions. Worldcoin aims to create a global digital currency by verifying individuals' uniqueness through biometric data via its digital identity system, World ID. The new hires, including Rich Heley as Chief Device Officer, Damien Kieran as Chief Privacy Officer, Adrian Ludwig as Chief Information Security Officer, and Ajay Patel as Head of World ID, will address privacy and security challenges and develop technology for a fairer economic system. Their expertise will help shape industry standards and enhance the performance and accessibility of Worldcoin’s iris-scanning hardware, the Orb, and improve global data security and privacy compliance.
Analysis:
Since mid-September 2023, Worldcoin's native token, WLD, has maintained an upward trajectory, experiencing a solid 235% rally in February 2024 to reach a new all-time high (ATH). However, after peaking at $12, the token faced a major correction, dropping below $3. Despite a recent 9% rally fueled by positive news, WLD is trading below its 50-day and 200-day EMAs, which are in a bearish death cross. To regain bullish momentum, WLD must rise above these EMAs and breach the psychological resistance at $5, aligning with the R2 Fibonacci pivot level for July 2024. This could trigger a follow-on rally. Conversely, the support zone for WLD is between $1.5 and $2, marked by the S1 and S2 Fibonacci pivot levels.
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