Worldcoin price is likely to rally 20% after a consolidation. Nvidia's earnings report on Wednesday could catalyze an upside move for WLD. A daily candlestick close below $4.20 would invalidate the bullish thesis. Worldcoin price is likely to rally after a week-long consolidation catalyzed by Nvidia’s earnings on Wednesday if these exceed estimates.
The weekly support level of $4.59 has managed to bounce WLD up by 7% to where it currently trades at $5.07. With Nvidia earnings around the corner, a positive surprise could lead to a breakout from the rangebound movement, flipping the $5.24 hurdle into a support floor. In such a case, investors can expect WLD to rally 20% and tag the next daily resistance level at $6.30 from May 13. But the bounce could be cut short around the $6 psychological level.