Worldcoin (WLD) has continued to outperform the market with an impressive 11% surge in the past 24 hours, as bullish momentum builds across both spot and derivatives trading. Analysts suggest that this momentum could push WLD toward the $1.5 mark in the near term.
Liquidity inflows fuel rally
Data from CoinGlass shows that Open Interest in the derivatives market rose 20% to $447 million, with $112 million in new positions skewing in favor of buyers. The long-to-short ratio climbed to 1.05, signaling bullish dominance.
Binance played a significant role in this rally, recording $116.03 million in Open Interest and $228.71 million in trading volume, the highest among centralized exchanges.
Spot investors reinforce bullish sentiment
Spot activity has also surged, with $8.77 million in acquisitions last week compared to just $285,000 the week before. Early this week, investors added another $290,000 in spot purchases.
What stands out is the shift in investor behavior. Many are moving WLD into private wallets, a trend associated with long-term holding strategies, which further strengthens the bullish outlook.
$1.5 target within reach
Worldcoin recently broke out of a bullish triangle formation, breaching its resistance and moving higher. Technical analysis suggests that if WLD follows the fractal breakout pattern, it could rally toward $1.5 in the short term.
With growing momentum in both spot and derivatives markets, analysts say the probability of WLD reaching this target is high, though traders should remain cautious of potential volatility.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
