Worldcoin (WLD) has experienced price consolidation within the $4.3 to $6.2 range over the past two months. The $4.3 support level has been frequently tested, demonstrating robust buying interest. Currently, WLD is priced at $4.83, showing minor fluctuations in recent days.
Key Resistance and Support Levels
The $6.2 resistance level has also been tested multiple times, indicating significant interest. WLD is currently on an upward trajectory aiming to break past this resistance. A successful breakout above $6.2 could lead to a new bullish phase for the altcoin, while a drop below $4.3 might trigger further declines.
Market Dynamics and Volume
Worldcoin’s market capitalization stands at $1.1 billion, with a 24-hour trading volume surge of 50.52%, reaching $507.61 million. According to IntoTheBlock’s indicators, 2.98 million WLD are poised to be profitable, with the current price nearing the profitable range for many investors.
Investor Insights
Key Points to Consider:
– Strong buying interest at $4.3 support level.
– Potential bullish run if WLD breaks above $6.2.
– Decrease in WLD supply on exchanges indicates bullish sentiment.
– Social volume increases showing market interest.
– Current price between Bollinger bands suggests lower volatility.
The supply of WLD on exchanges has been decreasing, confirming a bullish sentiment as investors move their holdings off-exchange. This could propel Worldcoin towards its target of $6.2. The Chaikin Money Flow (CMF) at -0.01 indicates investor indecisiveness, awaiting clearer market direction.
