WLD Surges 13% Amid AI Coins' Awakening
Worldcoin (WLD) has surged by over 13% in the past 24 hours, with its weekly gains reaching an impressive 26%. This rally is part of a broader trend in AI coins, which have seen significant price increases. Near Protocol (NEAR), Bittensor (TAO), Injective (INJ), and Internet Computer (ICP) are among the top performers in this space.
The buying activity behind WLD's rally can be attributed to renewed interest in AI. According to CryptoQuant, the Spot Taker CVD metric has flipped green, indicating buyer dominance over the past three months. Additionally, large players were invested in WLD, as evident from the Top Trader Long/Short ratios on Binance and OKX.
The technical outlook of WLD also supports its bullish trend. The altcoin has broken above the $0.41-$0.45 zone, which is the most recent lower high and the neckline of an inverted head-and-shoulders pattern. However, the RSI divergence still shows a bear signal, indicating that selling pressure may not be fully exhausted.
The upcoming token unlock on September 7th, which will release 69 million WLD tokens valued at $28 million, poses a significant risk to this rally. If bulls fail to keep the price above $0.45, the market structure shift may not be confirmed, and the rally could be considered a dead cat bounce.