The post Why Is The Worldcoin Price Up 20% Today, Rally To Continue? appeared on BitcoinEthereumNews.com.

Worldcoin (WLD) price has surged recently, driven by the ongoing altseason. Analysts point to bullish patterns in its movements, supported by strong technical indicators and rising trading volume. These factors suggest that Worldcoin Price may be positioned for continued upward momentum in the coming days. Altseason Fuels Momentum In Worldcoin Price The ongoing altseason has created a favorable environment for the Worldcoin price rally, as reflected in its 20% surge. The price recently rebounded from a local bottom of $2.25 and has now reached $2.90. Analysts believe this increase reflects growing interest in altcoins as market conditions improve. During this phase, altcoins experience increased investor interest and capital inflow, often outperforming Bitcoin. Analysts attribute this to a broader market breakout highlighted in a shared chart showing the total altcoin market capitalization excluding Bitcoin. The chart reveals a confirmed breakout above long-term resistance, signaling the start of a bullish phase for altcoins, including Worldcoin. Source: X The analyst’s chart showcases a clear breakout from a prolonged consolidation pattern, supported by rising trading volumes across the altcoin market. Historically, such breakouts in altseason have marked the beginning of altcoins rallies. This cycle appears no different, with Worldcoin demonstrating strong alignment with the broader market trend. Similarly, the rise in Worldcoin price is further supported by a Cup and Handle pattern, which suggests a bullish continuation. As altcoins gain momentum during this altseason, Worldcoin has emerged as a key player in the market’s resurgence. Cup and Handle Pattern Signals Breakout Potential Technical analysis identifies a clear Cup and Handle pattern on the Worldcoin price chart. This bullish structure features a rounded U-shaped “cup” followed by a smaller consolidation “handle,” indicative of accumulation and preparation for a breakout. According to the analysis, the breakout point for Worldcoin price lies between $2.60 and $2.65. Crossing…

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Filed under: News - @ November 29, 2024 1:26 am