Worldcoin price nears crucial support as falling wedge pattern emerges

Worldcoin (WLD) is currently trading at $1.04, down 40.2% in the last 30 days and 85.6% over the past year.

The Worldcoin price sits at a critical juncture as the cryptocurrency hovers near its lowest support level since its launch in July 2023.

Analysts are eyeing the $0.9 to $1 range as a potential zone of liquidity.

This area could act as a springboard for the next upward move, reminiscent of the buying opportunity seen in September 2023.

Worldcoin price forms a falling wedge pattern

On the daily chart, Worldcoin’s price has carved out a falling wedge pattern.

This formation, characterized by downward-sloping lines, signals a pause in the prevailing trend.

Worldcoin price chart by TradingView

Typically, a falling wedge is considered a bullish indicator. It suggests traders are weighing their next steps, often preceding a breakout to the upside.

For Worldcoin holders, this technical setup adds a layer of intrigue to the current price action.

With a support zone at around $0.9 to $1, if a bullish breakout occurs, traders should keep an eye on the first target at $1.281, 24.46% higher than the current price level.

Next, the token could hit $2.287, after which it could make an attempt at $3.923.

Conversely, if the support zone fails to hold, the token could drop further to unchartered territories.

Worldcoin developments that could spur the breakout

Several developments could stir a possible breakout, among them the Worldcoin (WLD) listing on Kraken.

Kraken, a major crypto exchange, hinted at listing Worldcoin on February 28, 2025.

Such listings often boost a coin’s visibility and accessibility.

Increased trading volumes and investor interest tend to follow, potentially driving prices higher.

If Kraken’s user base embraces WLD, the listing could spark a rally.

For those watching the asset, tracking volume shifts post-listing will be essential, as exchange integrations are widely seen as positive catalysts.

If the wedge breaks upward and exchange interest surges, WLD could reclaim ground.

However, competition from privacy-first alternatives like Billions.

Network may pressure its long-term outlook.

The Billions.Network recently launched a privacy-focused digital identity platform, leveraging zero-knowledge proof technology.

Unlike the World’s biometric approach, Billions.

Network avoids such methods, aiming for a scalable way to verify both human and AI identities.

According to Billions.Network, more than 9,000 projects, including Top Doctors, TikTok, and World (Worldcoin’s parent) have implemented its underlying verification framework, Circom.

This overlap hints at a complex rivalry brewing in the identity verification space.

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