Worldcoin [WLD] gained more than 13% over the past 24 hours, extending weekly gains to over 26%. The token has posted monthly gains exceeding 50% as of press time, driven by renewed interest in AI-related cryptocurrencies.
The rally coincides with similar double-digit gains across other AI-focused tokens, including Near Protocol [NEAR], Bittensor [TAO], Injective [INJ], and Internet Computer [ICP]. According to trading metrics, buyer dominance accelerated the move, with the Spot Taker CVD flipping positive in late August. Long/Short ratios on major exchanges exceeded 1.70, with top trader positions showing ratios of 1.93 and 2.11, indicating institutional participation.
The surge triggered significant short liquidations, with more than $1.20 million in leveraged shorts wiped out over 12 hours, compared to $490K in long liquidations.
Technical Outlook and Key Resistance
WLD broke above the $0.41-$0.45 zone, a level that represents the most recent lower high and the neckline of an inverted head-and-shoulders pattern. This breakout suggests a potential shift in market structure. Bullish targets rest at $0.55 and $0.67, contingent on the token maintaining support above $0.45.
However, technical indicators present mixed signals. The Relative Strength Index reading of 67 sits above neutral levels, though a bearish RSI divergence suggests selling pressure remains unresolved.
Risks to the Rally
The upside momentum faces headwinds from scheduled token unlocks. An unlock of 69 million WLD tokens worth approximately $28 million is set for September 7, part of a total 87 million tokens scheduled for unlocking throughout September. This supply increase represents a potential source of selling pressure that could challenge support levels.
