Worldcoin poised for breakout as bullish signals point to 60% upside

Worldcoin (WLD) Shows Strong Upside Momentum Amid Institutional Backing and Growing Adoption

After a week of consolidation, Worldcoin (WLD) is gaining impressive upside momentum, driven by growing adoption of its World ID identity network and renewed technical strength. The token surged 31% on May 23, hitting an intraday high of $1.63—marking a remarkable 180% gain from its lows just last month.

Surge in Market Activity Reflects Renewed Investor Confidence

The recent price rally has been accompanied by a notable surge in market activity. Spot trading volume soared 160% to nearly $1.3 billion, while derivatives volume climbed an even more significant 208%, reaching $2.69 billion. Open interest also increased 48% to $427 million, signaling strong renewed interest from traders and investors alike.

$135 Million Funding Boost from Top Institutional Investors

The key catalyst behind this renewed enthusiasm was the announcement that the World Foundation secured $135 million in fresh funding to expand its iris-based identity platform, World ID. Leading venture capital firms such as Andreessen Horowitz and Bain Capital Crypto spearheaded the funding round, purchasing Worldcoin tokens at market price. This infusion of capital not only expands token circulation but also adds institutional credibility to the project.

World ID Adoption Expands Rapidly Across Asia and the U.S.

Worldcoin’s adoption momentum is accelerating, with World ID making significant inroads across major regions. The platform has now launched in the U.S. and continues to see strong uptake in Asia. Singapore leads the charge with over 100,000 users, while Japan and South Korea each added more than 10,000 new users in April alone. Southeast Asian countries including Thailand, Indonesia, Malaysia, and the Philippines are also joining the network’s growing footprint.

On-chain data further confirms the positive trend, showing increases in daily active addresses and accumulation by large holders, aligning with the bullish price movement.

Technical Outlook: Bullish Signals Point to Potential 60% Upside

From a technical perspective, Worldcoin is showing robust strength. After breaking out from a rising wedge pattern—a formation usually considered bearish—WLD reversed course and pushed higher. The token is trading above its 50-day simple moving average and approaching the 200-day SMA, indicating strong upward momentum. Additionally, the 200-day exponential moving average has flipped to become a support level.

The MACD indicator is trending upward, suggesting momentum remains with the bulls. There is also a potential Cup and Handle pattern forming on the daily chart, with a neckline around $2.50 and a cup bottom at $0.58. Should this pattern complete, it could propel Worldcoin toward the psychological $2.50 resistance, offering a potential gain of over 60%.

Beyond that, a breakout past $2.50 could open the door to the 78.6% Fibonacci retracement level near $3, offering further upside potential.

Analysts Target $2.20–$2.50 Range by Mid-Year

Several market analysts share a bullish outlook, projecting that WLD could reach between $2.20 and $2.50 by June or July, assuming the current momentum holds. However, caution is advised as the Relative Strength Index (RSI) nears overbought levels, which could prompt a short-term pullback or sideways trading.

In the event of a correction, strong support lies near $0.97, coinciding with the 200-day SMA and the 200-day EMA support level at $1.479.

Summary

At press time, Worldcoin traded around $1.55—still significantly below its all-time high of $11.74 from March 2024, but showing strong signs of a possible breakout fueled by institutional backing, growing adoption, and positive technical momentum.

If the bullish trend sustains, WLD could be poised for a substantial rally in the coming months, making it a token to watch closely.