Worldcoin’s (WLD) price has increased by 10% in the last 24 hours, making it one of the best-performing altcoins in the top 100. This Worldcoin price increase puts the token’s value at $2.90.

However, according to several indicators, this rise might just be the beginning of a sustained rally that takes WLD higher. Here is how.

Worldcoin Rises Past Bearish Dominance, Volume Follow

Between June 6 and November 21, WLD traded within a descending triangle. A descending triangle is a bearish chart pattern defined by a downward-sloping upper trendline and a flat, horizontal lower trendline. This formation typically signals potential downward price movement as sellers gain control.

When a cryptocurrency’s price breaks below the horizontal support, it indicates that the downtrend might intensify.  But as of this writing, Worldcoin has broken out of it, indicating that the altcoin is on a bullish path.

If sustained, the Worldcoin’s price increase could go higher than $3 in the short term. However, to validate that, one has to assess the position of other metrics.

One metric supporting a further hike is WLD’s volume. The volume shows whether the market is actively trading a token. When it increases, more liquidity is flowing into the cryptocurrency.

On the other hand, if the volume drops, the crypto is less liquid. Furthermore, the volume can tell the direction in which the price can move. Typically, when the volume rises alongside the price, it means the trend is bullish.

However, falling volume on rising prices indicates that the uptrend is weak. Since the Worldcoin price increase coincides with a hike in volume, it suggests that the altcoin’s value might continue to rise.

WLD Price Prediction: $4, Then $5 Could Come

On the daily chart, Worldcoin’s price has risen above the 20- and 5-period Exponential Moving Average (EMA), a technical indicator that measures a cryptocurrency’s trend. 

When the indicator goes downwards and is above the price, the trend is bearish. On the other hand, if the EMAs are below the price and rising, the trend is bullish. The last time such occurred, WLD price rallied above $11.

Should the pattern rhyme with the historical trend, Worldcoin’s price might rise to $3.92. If bulls sustain the trend, then the altcoin might climb above $4 and possibly to $5.10. 

However, should the token drop below the EMA again, the WLD price prediction might not come to pass. Instead, it might decline to $2.07.

Artificial Superintelligence Alliance (FET) has been on an uptrend, gaining 31% over the past week. This rally is driven by increased whale accumulation, indicating heightened interest from large-scale investors.

FET’s double-digit price surge has brought it near the upper boundary of the horizontal channel it has traded within since June. The key question is whether this momentum will trigger a breakout above this critical resistance level.

FET Whales Drive Rally

BeInCrypto’s analysis of FET’s on-chain performance has revealed a significant rise in whale accumulation over the past week. Data from Santiment reveals that, in the past seven days, whale addresses holding between 10 million and 100 million FET tokens have collectively purchased 106 million tokens valued at $174 million at current market prices.

When whales accumulate more coins, it signals confidence in the asset’s future value. This heightened demand often influences retail interest, which increases buying pressure and drives up the asset’s price. 

This surge in whale accumulation is largely attributed to FET’s undervalued status, as indicated by its negative market value to realized value (MVRV) ratio. Santiment reports that FET’s current MVRV ratio stands at -86.25%.

The MVRV ratio compares an asset’s market capitalization to the total value of coins purchased at their realized price, offering insights into whether the asset is overvalued or undervalued relative to its historical cost basis.

Historically, investors view negative MVRV ratios as a buying opportunity, recognizing that the asset trades below its historical acquisition cost and may rebound. This expectation of a rebound has led FET whales to increase their holdings in recent days.

FET Price Prediction: A Rally Above $2 Is Possible

On a daily chart, FET has traded within a horizontal channel since June. This channel is formed when an asset’s price fluctuates between parallel support and resistance levels, indicating a period of consolidation or range-bound trading. Since June, FET has faced resistance at $1.72 and has found support at $1.09.

At press time, FET trades at $1.63, attempting to break above the upper line of this channel. If successful, this will propel its price to trade at $2.09. Conversely, a failed attempt to breach resistance will send FET’s price toward support at $1.35.