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Can Worldcoin Price Hit $2 As WorldID Enters Solana Ecosystem?

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2 months ago

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Worldcoin price took a turn for the better last week after OpenAI announced the launch of their newest product, o1. The hype around the project propelled WLD price by over 18% in less than 12 hours. However, investors have been booking profits over the weekend as the much-awaited FOMC meeting is filled with uncertainty. In the meantime, the Worldcoin decentralized identification (DID) system is finally coming to Solana, potentially reducing the rate of rug pulls and exploits on the network.

Wormhole Finalizes WorldID Bridge to Solana, Worldcoin Price Slumps

On June 27, Wormhole, the leading interoperability platform powering multichain applications and bridges at scale, announced that Worldcoin’s WorldID was coming to Solana. Less than a month later, the bridge was finalized.

The integration will allow Solana developers to prioritize proof of personhood for authentication in their products. This is a big win for Worldcoin, which aims to foster increased trust in the digital world and, by extension, for the Solana price. 

Despite the good news, the Worldcoin price dropped over the weekend as general trading volume declined. This could be because of the upcoming FOMC meeting on September 18, in which the crypto investors expect 25 to 50bps. However, it has been a while since anyone is certain of what Fed Chair Jerome Powell will do, as the regulatory agency has pushed forward promises of rate cuts for almost a year now.  

WLD Price Analysis: $2 In Sight, But Not Before This

WLD price is currently in a bearish trend despite the recent upward swing. The price action has been making lower highs and lower lows since mid-August, but there is potential for a reversal as the price is currently near a significant support zone ($1.37–$1.40). The price has tested this level multiple times and respected it, indicating that buyers could step in here.

Conversely, the Worldcoin price could face resistance at $1.50 and $1.60. The WLD price has tested the $1.50 level multiple times, while $1.60 is a more distant target, acting as a strong ceiling for the price recovery.

Candles near the support area show long lower wicks, which suggests rejection of lower prices and a possible upward reversal. This may indicate that the sellers are losing momentum. 

Worldcoin priceWorldcoin price
Worldcoin price analysis chart

The Worldcoin price is likely completing a corrective wave downwards within the larger bearish structure, and it seems ready for a bounce at this support level towards the next resistance. If the WLD price breaks and holds above $1.60, this could indicate the end of the bearish cycle, opening up a long-term target of around $2.00 or higher.

Frequently Asked Questions (FAQs)

OpenAI’s launch of o1 led to an 18% surge in WLD price within 12 hours, sparking investor interest and market activity.

The integration allows Solana developers to prioritize proof of personhood for authentication in their products, increasing trust and potentially reducing rug pulls and exploits in the network.

Before any significant upward movement, WLD could experience a 6% drawdown, especially as it faces resistance at $1.50 and $1.60.

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Evans Karanja

Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Cardano (ADA) Price

How Far Can Cardano Price Rise in November?

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7 hours ago

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November 7, 2024

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Cardano (ADA) price has significantly increased in the last 24 hours, following a broader market surge. The altcoin’s positive trend comes amid increased investor interest as the cryptocurrency market rallies after the recent U.S. elections. Notably, Cardano’s surge aligns with other altcoins that have also rebounded, strongly eyeing more gain in November and further attracting attention from analysts. 

Will Cardano Price Hit New Peaks in November Amid Major Upgrades?

Cardano’s price has shown strong momentum recently, climbing over 10% in the past month, supported by a positive shift in the broader cryptocurrency market. This surge comes as Cardano launches Node 10.1, a significant upgrade that introduces new governance capabilities and prepares the network for the upcoming Chang 2 hard fork. 

Node 10.1.1 is the first mainnet node to support the Chang 2 inter-era hard fork, marking a crucial step for Cardano’s governance evolution. The release also brings enhanced delegation options, allowing stake pool operators (SPOs) to delegate to pre-defined voting choices.

These advancements have spurred optimism that Cardano’s price could push higher in the coming weeks, as the network solidifies its infrastructure and prepares for new functionalities.

Analyst Predicts 70% ADA Price Rally Surge

Crypto analyst ZAYK Charts has highlighted a potential bullish wave for Cardano, indicating a breakout from a falling wedge pattern on the 1-day chart. This technical formation is often seen as a reversal indicator that ADA could experience significant upward momentum.

According to ZAYK Charts’ projections, the breakout could lead to a 60-70% price increase. This optimistic outlook comes as ADA investors anticipate the next move, with bullish sentiment building around the cryptocurrency.

At the time of writing, the ADA price saw an impressive 5.% increase within the past day, trading at approximately $0.3751. Opening at a low of $0.3525, the ADA gradually gained traction, climbing to a high of $0.3771, marking a significant upward trend in the 24 hours. 

The top altcoin price is eyeing a critical resistance level at $0.38, with bullish momentum suggesting a potential breakthrough. If ADA manages to overcome this barrier, analysts expect the cryptocurrency could challenge a more significant resistance point at $0.75.

The Moving Average Convergence Divergence (MACD) indicator on the daily chart shows a positive crossover. The MACD line (blue) stands above the signal line (orange), indicating growing buying momentum. The histogram has also shifted to green, suggesting bullish momentum may be building up.

How Far Can Cardano Price Rise in November?How Far Can Cardano Price Rise in November?
Cardano Price Chart: TradingView

As Cardano continues to build momentum and adopt new upgrades, it could be on track for notable price growth in November. With promising technical indicators and bullish sentiment, ADA may push toward new highs in the weeks ahead.

 

Frequently Asked Questions (FAQs)

Cardano’s Node 10.1 upgrade, increased investor interest, and a positive market rally are key drivers.

Analysts predict a potential 60-70% rally if ADA breaks through key resistance levels.

It introduces new governance and delegation features, preparing the network for the Chang 2 hard fork.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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ETH

No ATH for Ethereum Price? ETH Whale Selling Persists Amid Election Boost

Published

1 day ago

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November 6, 2024

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During Wednesday’s trading session, the cryptocurrency market witnessed a surge in buying pressure as Donald Trump secured his victory as the 47th U.S. President. The pioneer cryptocurrency, Bitcoin, surged 8.8% to a new high of $75,400, boosting recovery in the altcoin market. However, the Ethereum price could struggle to hit new ATH as crypto whale continues to offload ETH.

By press time, the ETH price trades at $2,647 with an intraday gain of 9.89%. According to Coingecko, Ether’s marketcap holds at $319.2 Billion, and 24-hour trading volume is at $38.169 Billion.

Ethereum Price ATH Delayed? Whale Sales Overshadow Election Momentum

On November 6th, the cryptocurrency market experienced a significant rally as Donald Trump secured the necessary 270 electoral votes to become the 47th President of the United States. Amid this rally, a crypto whale who received 150,000 ETH through the ICO recently transferred a substantial 25,000 ETH (worth approximately $65.63 Million) to Kraken at an average price of $2,625.

According to Lookonchain, this whale has sold a total of 90,000 ETH of the 150,000 coins at an average value of $2,527 (worth around $227.45M). 

Breakdown of the Whale’s ETH Sales: 

  • July 2019: Sold 5,000 ETH at $218 ($1.09M).
  • June 2024: Sold 10,000 ETH at $3,539 ($35.39M).
  • September–October 2024: Sold 50,000 ETH at $2,516 ($125.34M).
  • November 2024: Sold 25,000 ETH at $2,625 ($65.63M).

Historically, whale selling has coincided with major market tops and spurred a bearish sentiment in the market. Amid the supply pressure, the Ethereum price could witness a stalled recovery momentum and struggle to hit a new All-time-high.

ETH Chart Analysis Shows Porlong Consolidation Within Triangle

Over the past three months, the Ethereum price prediction has traded sideways, resonating within a symmetrical triangle pattern. The price action strictly resonated within two converging trendlines, indicating a lack of dominance from buyers or sellers.

With a massive green candle today, the ETH price is at $2,661, still consolidating within the triangle and 3% away from a major breakout. If the sellers continue to defend this resistance, the Ether price will revert again and prolong its sideways trend.

Ethereum PriceEthereum Price
ETH/USD- 1d Chart

Therefore, a potential breakout from overhead resistance is necessary for buyers to regain control over the asset. If the ETH price surpasses the dynamic with the daily candle closing, the bullish momentum will accelerate to drive a surge above $3,500.

Frequently Asked Questions (FAQs)

Ethereum’s price recovery has been limited due to persistent selling by crypto whales

Following Trump’s election as the 47th U.S. President, the crypto market saw a rally, with Bitcoin hitting $75,400 and Ethereum gaining 9.89%, trading at $2,647

The symmetrical triangle pattern indicates consolidation, with ETH price oscillating between two converging trendlines. An upside breakout from this pattern is essential for buyers to regain control and push ETH towards the $3,500 mark or higher.

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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LUNC price

Will the Terra Classic Price Crash As The Shuttle Bridge Shuts?

Published

2 days ago

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November 5, 2024

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The Terra Classic price crawled back on Tuesday, November 5, reaching an intraday high of $0.000086. This LUNC recovery happened after Terra announced that it had permanently closed the Shuttle Bridge and burned the remaining tokens.

Terra Classic Price Reacts to Shuttle Bridge Closure

In an X post, Terra announced that it had permanently closed the Shuttle Bridge interface. This closure led to the burning of the remaining LUNC and USTC tokens in the bridge. A token burn happens when tokens are moved to a discrete address that cannot be accessed. 

The closure happened a few months after the developers opened the bridge to facilitate the redemption of the existing wrapped tokens. Precisely, the bridge helped users to send their LUNC and USTC bridged to Ethereum, BNB Chain, and Harmony back to Terra Classic. 

Terra Bridge X PostTerra Bridge X Post
Terra Bridge X Post

The opening of the Shuttle Bridge was part of the Terraform’s Chapter 11 bankruptcy proceedings, a few years after its collapse. As part of the settlement with the Securities and Exchange Commission, Terraform Labs had to burn the remaining tokens.

Terra Luna Classic Price Is At Risk

The LUNC price formed a double-top pattern around $0.00025 earlier this year, which explains why it has dropped by 65% from its highest level in March. The neckline of this pattern was at $0.000087, where it was trading on November 5. 

Terra Luna Classic price has remained below the 78.6% Fibonacci Retracement level. Most importantly, it has remained below the 50-day Weighted Moving Average indicator and the Ichimoku cloud.

The LUNC token has formed two bearish chart patterns. It has created a rising wedge, which is made up of converging higher lows and higher highs. In most periods, this pattern leads to a breakdown, especially when the two lines are nearing their confluence.

Terra Luna Classic has formed a bearish pennant chart pattern consisting of a long vertical line and a triangle-like pattern. 

Therefore, the combination of a double-top pattern, rising wedge, and bearish pennant means that the token will have a bearish breakdown in the near term. If this happens, the next reference level to watch will be $0.000054, its August lows, and 38% below the current level.

Terra Luna Classic PriceTerra Luna Classic Price
LUNC price chart | Source: TradingView

On the flip side, a move above the crucial resistance level at $0.00011, its highest swing in September, will invalidate the bearish view. If this happens, it will rise to the next key resistance level at $0.00013, its highest level in May.

Frequently Asked Questions (FAQs)

Odds are that the end of the Shuttle Bridge will lead to a bearish breakdown since it has formed a bearish pennant and a rising wedge pattern.

Technicals point to more Terra Luna Classic sell-off in the next few weeks. If they are accurate, the coin may drop by 38%.

Based on our technical analysis, the initial support and resistance levels to watch will be at $0.0000054 and $0.00011

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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