Join Our Telegram channel to stay up to date on breaking news coverage
The Worldcoin price surged more than 196% over the past 7 days to trade at $7.41 as of 7:40 a.m. EST as investors scramble to buy into the crypto co-founded by OpenAI CEO Sam Altman.
WLD was among the many AI cryptos that benefited from the launch of OpenAI’s new video-generation model called Sora. The company says the AI “can create realistic and imaginative scenes from text instructions.”
The Worldcoin Price Forms A Bullish Price Channel
4-hour chart for WLD/USDT (Source: TradingView)
The Worldcoin price has been in a medium-term bullish price channel over the past few days, and is currently attempting to overcome the resistance level at $7.830. Breaking this threshold could lead to the crypto continuing to ascend in the next 48 hours.
This bullish thesis may be invalidated if WLD is rejected by the $7.830 mark. In this alternative scenario, the Worldcoin price may be at risk of testing the lower boundary of the current price channel, which is also confluent with the $6.580 support level. As a result, falling below this key price point may put WLD at risk of a steep correction in the next couple of days.
Sellers could force the Worldcoin price down to the subsequent support level at $5.290. Persistent bearish pressure may then lead to WLD falling to as low as $4.570 in the short term.
Technicals Suggest The Worldcoin Price May Experience A Brief Correction
Technical indicators on WLD’s 4-hour chart suggest the Worldcoin price may drop in the coming 48 hours. More specifically, the Relative Strength Index (RSI) indicator is on the verge of triggering a significant bearish technical flag. Currently, the RSI is attempting to cross below its Simple Moving Average (SMA) line. An intersection between these two lines could be taken as a sign that momentum has shifted in favor of bears.
Traders will want to keep an eye on the Moving Average Convergence Divergence (MACD) indicator, as it currently shows that buyers still have the upper hand against sellers. However, the gap between the MACD and MACD Signal line is narrowing. This may be a very early sign that WLD’s positive trend will undergo a bearish trend reversal soon.
While WLD faces the risk of a temporary correction, analysts and investors are turning their attention to the new Solana meme coin Smog for potential explosive gains in the coming weeks.
Climbing Up The Ranks
Since blasting onto the scene, Smog has garnered a substantial amount of interest from investors. This has not only led to its price soaring, but has also elevated its market cap to above $58 million.
As a result, the newly-launched Solana meme coin has broken into the top 20 list of the biggest meme coins in terms of market cap, joining the likes of meme coin giants such as Dogecoin, Shiba Inu, Pepe and Bonk.
$SMOG One #Memecoin To Rule Them All
Buy or stake ERC-20 $SMOG tokens through our website for 42.0% APY.
Tokens staked are locked for 90 days, with rewards withdrawable throughout.
All tokens purchased through the site will be automatically staked.
Link in bio! pic.twitter.com/Y98lZcjuk6
— SMOG (@SMOGToken) February 10, 2024
At the heart of the overwhelming investor interest is the token’s upcoming airdrop, which Smog says will be the biggest event of its kind the crypto market has ever seen. Although no specific details regarding the event have been released, the project’s tokenomics shows that 35% of the token’s supply has been set aside for airdrop events.
An Airdrop Different From The Rest
Smog’s airdrop is slightly different from the ones prior to its launch, as it includes a gaming element in the mix. Instead of tokens just being distributed to holders in a random fashion, investors will have to earn their share of the distributed tokens.
To do this, investors will need to complete quests listed in Smog’s Zealy campaign, which will reward participants with points.
The more points an investor earns, the bigger their share of the airdrop will be. These tasks range from following Smog’s Twitter account to raiding a Binance tweet. The points awarded for the tasks are proportional to the marketing impact that the task has on the crypto market for Smog.
The token is currently available for a 10% discount to the market price, so if you are interested, act quickly to lock in the lower price before the offer ends.
Visit and buy Smog on the official website here.
Related Articles:
New Crypto Mining Platform – Bitcoin Minetrix
- Audited By Coinsult
- Decentralized, Secure Cloud Mining
- Earn Free Bitcoin Daily
- Native Token On Presale Now – BTCMTX
- Staking Rewards – Over 50% APY
Join Our Telegram channel to stay up to date on breaking news coverage
Credit: Source link
