Price Analysis

Worldcoin Hints Bearish Action! WLD Price To Retest $4 This Week?

. , . , . . , . , . . , . , . . , . , . . , . , . . , . , . . , . , . . , . , . . , . , . . , . , . . , . , . . , .

The cryptocurrency industry has displayed a negative trend this weekend with top altcoins recording correction in their respective portfolios. Moreover, the Artificial Intelligence (AI) category continues trading under a strong bearish influence, indicating the rising disinterest of investors in it.

Furthermore, the Worldcoin price has lost 1.13% within the past day and approximately 5% over the past week, indicating an increase in the bearish price action for the WLD token in the crypto space.

WLD Token On The Verge Of Testing A Major Breakout:

After trading under a bearish influence for the first month, the Worldcoin price gained momentum and recorded a new all-time high of $11.820 on 10th March by surging 448.74% in valuation. However, shortly after this, the bulls lost momentum and lost 64.38% within the next 30 days.

TradingView: WLD/USDT

Since then, the Worldcoin token has been trading in a closed range between $4.210 and $6.025, highlighting a weak price action for the altcoin in the crypto market. Positively, WLD price has recorded a 24-hour trading volume of $327.68 Million, a jump of 15.01% within the past day while recording a minor correction of approximately 1% in its valuation.

Worldcoin Market Sentiments:

The Simple Moving Average (SMA) displays a high possibility of a bearish convergence in the 1D time frame, indicating a high possibility of a negative price action in the coming time.

On the other hand, the technical indicator, MACD, shows a constant decline in the green histogram, indicating an increase in the selling pressure within the crypto space. However, the averages display a neutral trend, suggesting uncertainty in future price action.

Will WLD Coin Price Increase?

If the market pushes the Worldcoin price above its resistance level of $6.025, the market bulls will regain momentum, resulting in this altcoin testing its upper resistance level of $7.650. If the industry trades under a bullish sentiment, the WLD token will prepare to test its upper level of $9.160 this month.

Conversely, if the bulls fail to break out of their important resistance level, the WLD coin price will continue trading under a bearish influence and plunge toward its crucial support level of $4.210.

Also Check Out : Top 3 Altcoins To Turn $1 to $10 By End of May  

SOURCE

Leave a Comment

fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle fle