- Worldcoin price has formed a falling wedge pattern on the daily chart.
- Sam Altman made major announcements and partnerships on Friday.
- The platform inked partnerships with Shopify, Zoom, and Tinder.
Worldcoin price remained under pressure on Saturday despite the new deals to take the identification network mainstream. WLD token was trading at $0.2765, down substantially from last year’s high of $2.20. It has formed a highly bullish falling wedge pattern, pointing to an eventual rebound.
Worldcoin Price Falls Despite Major Deals
Sam Altman’s World is expecting to see more growth in the coming years after inking a deal with some of the biggest companies in the United States at the Lift Off event.
In a statement, the company said that it was partnering with firms like Tinder, Zoom, DocuSign, Shopify, Okta, and Coinbase, which will now leverage its proof-of-human service to ensure the integrity of their platforms.
The new World ID introduced an account-based architecture that makes private proof of human more secure and portable. This is important in the new era where artificial intelligence is breaking new barriers, as evidenced by Mythos, the new models by Anthropic. World also introduced the World ID for AI agents and for businesses.
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The company also introduced the World ID app, where any app can be a World ID authenticator. It is designed to be the place where proof of human lives lives on devices.
After signing up on the app, the orbs takes a photo of your eyes and face, creates a unique code based on your photos, and then the device sends anonymous fragments of the unique code to the AMPC nodes to confirm a person is real.
In addition to World, other networks are working to offer these verification services, with the most notable one being Humanity Protocol. In a recent statement, Pi Network confirmed that it was working on a similar service, leveraging its KYC process that has verified over 18 million users.
WLD Price Has Formed a Highly Bullish Chart Pattern
Worldcoin price chart | Source: TradingView
Technical analysis suggests that the Worldcoin price has been in a strong bearish trend after peaking at $2.195 in September last year to the current $0.2747. It recently formed a large falling wedge pattern, which is made of two descending and converging trendlines. A bullish breakout normally happens when the two lines are nearing their convergence.
The two lines of the Percentage Price Oscillator (PPO) have formed a bullish crossover pattern, while the Relative Strength Index (RSI) has been rising.
Therefore, the token will likely have a strong bullish breakout in the near term as bulls target the psychological level at $0.500, which is about 140% above the current level.
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