Worldcoin (WLD) Price Analysis: A Detailed Overview for Crypto Enthusiasts
Worldcoin’s price failed to enter the Ichimoku Cloud, indicating strong resistance at $5. The price dropped below the 200 EMA, experiencing a 21% decline on a single daily candlestick. This significant price action set the tone for the subsequent bearish trend observed over the analyzed period. The price has reverted to reach an important resistance level at $4.45, which served as support in the past and corresponds to a 4-hour Ichimoku baseline plateau.
Worldcoin Holds Support Despite Persistent Bearish Trend
– The price has stabilized around the $3.69 mark.
– Another important Ichimoku plateau that served as a key resistance level during December 2023.
– Reclaiming the $4.45 level and breaking above it could shift WLDβs mid-term outlook positively.
– Dropping below $3.69 could push the price down to lower support levels, such as $2.55.
Worldcoin Faces Major Sell-Off
– Sharp declines between June 2 and June 9, with prices dropping to $4.25 and $3.81.
– Lack of buying support at these levels indicated persistent sell-off pressure.
– Active addresses dropped from 1,963 on May 12 to 1,267 on June 9.
– Price plummeted by 34% from May 12 to June 12, 2024, highlighting significant bearish pressure.
– Number of active addresses declined by approximately 35.1%, resembling mid-February 2024 levels.
– Waning interest among users, possibly driven by declining price and broader market sentiment.
Strategic Recommendations
– Positive Scenario: Reclaiming the $4.45 level and breaking above it could shift WLDβs mid-term outlook positively, attracting new buyers and restoring confidence among existing investors.
– Negative Scenario: Dropping below $3.69 may push the price down to $2.55, triggering further sell-offs and intensifying bearish sentiment.
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