Worldcoin, a digital identity and cryptocurrency project co-founded by OpenAI CEO Sam Altman, is potentially preparing for a bull run despite facing controversies since its launch in 2023. The project has been under global regulatory scrutiny due to concerns over privacy and data protection. However, recent developments suggest a shift in market performance and geographic expansion.
Currently, the price of WLD is hovering around $4, slightly above the critical support level of $2.779. Maintaining this support level could attract buyers and result in a price recovery. The 20-day (red), 50-day (purple), 100-day (blue), and 200-day (green) EMAs are positioned at $3.694, $4.422, $4.888, and $4.613, respectively. Although the price remains below these EMAs, breaking above them could indicate a trend reversal, potentially leading to a bullish trend.
Moreover, the price is approaching the 0.236 Fibonacci level at $3.569. Sustaining above this level and progressing through higher Fibonacci levels could confirm a bullish trend. Historical fractals also suggest a potential recovery pattern, indicating upward movement if key support and resistance levels hold.
In addition to technical indicators, the recent conclusion of the investigation into Worldcoin by the Kenyan government could influence market sentiment. The Directorate of Criminal Investigations (DCI) and the public prosecutor found no grounds for further action, allowing Worldcoin to resume its activities in Kenya. This development removes a significant obstacle for Worldcoin in the country.
Furthermore, Worldcoin announced plans to introduce World ID orb verifications in Ecuador. This expansion, scheduled to begin on June 26 in Guayaquil and June 27 in Quito, aims to increase global adoption of the project. Ecuador joins a list of Latin American countries where World ID orb verification services are available, including Argentina, Chile, Colombia, Mexico, and Peru.
The launch in Ecuador aligns with the growing global interest in proof of humanness. Worldcoin referred to a survey in Spain, indicating that 82% of World ID holders consider technologies like Worldcoin important for distinguishing humans from bots online. Similarly, a survey in Portugal showed that 77% of respondents supported Worldcoin’s impact on digital interactions. In Ecuador, 92% of respondents expressed support for technology-based solutions to differentiate humans from bots, reflecting regional interest in Worldcoin’s mission.
Worldcoin’s expansion into Ecuador coincides with investment plans in Argentina, aiming to establish the country as a regional hub for technology and economic development. Worldcoin contributors, such as Tools for Humanity, plan to create opportunities for at least 50 qualified professionals, including developers and data analysts.