Since its launch in late July, the price of Worldcoin (WLD) has been declining in a corrective pattern. This decline culminated at a low of $1.02
The price of Worldcoin (WLD) hit this low on September 5, but then immediately began a rebound and has since rallied nearly 25%, showing signs of a potential future bullish breakout.
I recognize you by your eyes…..
In the second half of the summer, Worldcoin (WLD), a project to verify identity through iris scanning, became the center of attention and hype. It was developed as a platform for digital identification to distinguish real people from bots or artificial intelligence (AI) algorithms. Its main tool, Orb, is an iris scanning device that is supposed to confirm the uniqueness of each user’s identity on the Internet.
The token of the worldcoin project (WLD) from the founder of the ChatGPT development company immediately appeared on exchanges. People all over the world queued up for retinal scans to receive free cryptocurrency from the project. Meanwhile, regulators in various countries began to show high interest in the ambiguous activities of the project.
Worldcoin price rebounded from the $1 level
The price of the WLD token has been in a downtrend since it was listed on July 24. This decline took place within a descending parallel channel. Such patterns usually contain corrective movements, which means that the most likely scenario for further developments is a bullish breakout from the channel.
On September 5, the price hit a new all-time low of $1.02, but rebounded almost immediately afterward. Now Worldcoin is trading in the upper part of the channel, which further increases the coin’s chances of a bullish breakout.