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Worldcoin See Slight Breakout From Range-Bound Movement. Uptrend Imminent

Worldcoin is seeing significant increases in the last 24 hours. It is up by over 5% as its candle shows a wick sticking out, indicating a peak at $5. However, it is trading at $4.87 at the time of writing.

The latest price improvement is in reaction to the worldcoin team’s recent visit to Argentinian President Javier Milei to discuss investing in the country.

The firm behind the altcoin, Tools for Humanity, said during the meeting that they “discussed the advancement of artificial intelligence, how to prepare humanity for AI and its potential investments in Argentina.”

The latest move by the project marks another effort to change the narratives with world leaders following its indictments for several unethical practices.

In a recent development, the project faced a setback in Hong Kong. The nation’s privacy regulator, the Office of the Privacy Commissioner for Personal Data (PCPD), ordered the halt of the Worldcoin Foundation’s operation in the region due to its alleged violation of local privacy regulations.

The regulators claimed that the project collected facial and iris biometric data from at least 8,302 individuals during its operations in the country. It came to a conclusion following ten covert inspections at six Worldcoin locations in December 2023 and January 2024; the agency determined the “unnecessary and excessive” collection of biometric information.

Worldcoin Bullish Convergence

The Moving Average Convergence Divergence is printing buy signals at the time of writing. The 12-day EMA is in contact with the 26-day EMA, which means the bullish convergence is complete. The divergence is underway and will continue if the bulls continue the uptrend.

With the bullish reading, the asset will experience more price increases in the coming days. It will attempt its pivot point at $5.50. Nonetheless, previous price movements suggest strong rejections at $5.20, which is the fourteen-day high.

The relative strength index is also the rise in reaction to the most recent change in price trajectory. In addition to placing the bulls at an advantage, it shows more room for further surges.

Gideon Geoffery