Will Worldcoin plummet to new all-time lows?

WLD

As a seasoned crypto investor with a few battle scars from past market downturns, I’ve learned to keep an eye on crucial indicators that could potentially signal a bottom or a reversal. With Worldcoin (WLD) showing signs of bullish momentum after retesting key trendline support and whale transactions along with development activities suggesting a potential reversal, it’s essential to stay informed and cautious.

The cryptocurrency Worldcoin (WLD) has experienced a significant downturn, causing anxiety among investors. With it nearing its record low, the dilemma faces us: Is this the rock bottom, or is a much-anticipated rebound on the horizon?

Let’s find out –

Over the past two months, WLD‘s price has fluctuated between $6.5 and $4.2. However, following a breach of the $4.2 support level on June 8th, the value has dropped by approximately 21%.

As a researcher observing the market trends, I’ve noticed that the trendline support, which has undergone several tests in the past, is currently exhibiting a robust bullish trend.

I’ve analyzed the current market data as of now, and according to CoinMarketCap, the price of WLD is sitting at $3.46. This represents a decrease of 6.29% in the past 24 hours and a more substantial drop of 20.83% within the last seven days. The market capitalization for this cryptocurrency stands at a significant $834 million.

WLD’s volume surged by 16.03% to $174 million in the last 24 hours.

Will Worldcoin plummet to new all-time lows?

With a stochastic RSI reading of 2.70, the market may be entering an oversold territory, potentially leading to a price turnaround if the bullish trend starts to lose strength.

Is there a glimmer of hope for Worldcoin?

To determine if Santiment’s large investors (whales) and development team were signaling a potential turnaround or deeper decline, AMBCrypto examined their whale and development activity data.

As a crypto investor, I’ve noticed an uptick in development activity surrounding WLD, which is an encouraging sign for me. It suggests that the community behind this project is actively working on improving its technology and building out its ecosystem. This dedication and commitment instills confidence in me that the long-term potential of WLD is solid.

Large-scale whale transactions displayed numerous peaks, indicating that major investors could be amassing assets in anticipation of entering a profitable market sector. Subsequently, this activity might lead to an increase in price and possibly initiate a market reversal.

Will Worldcoin plummet to new all-time lows?

What does liquidation heatmap have to add?

A liquidation heatmap highlights areas where substantial liquidation is likely to occur approximately at $4.0. These zones may function as attractive forces, potentially causing price increases.

Based on my analysis of the current market trends at the given moment, it appears that there is a bullish inclination. Consequently, I anticipate that WLD‘s price will rise in order to close any existing gaps.

Should you brace yourself?

Although the wider trend in the WLD market shows a predominantly bearish stance, certain signs point towards an imminent turning point where the market may shift direction.

With increasing whale actions, continuous construction projects, and a re-examination of the trendline, there is a possibility for a price reversal.

However, if WLD breaks below the support level, the price may dip further.

2024-06-16 12:07

Is there a glimmer of hope for Worldcoin?

What does liquidation heatmap have to add?

Should you brace yourself?

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