Worldcoin (WLD): Potential to Reach $8 Amid Recovery?
Worldcoin (WLD) is on the path to recovery after bouncing off a crucial support level, sparking discussions about its potential to climb back to $8. Let’s delve into recent on-chain analysis that sheds light on WLD’s trajectory and the growing optimism within the community.
Worldcoin Network Growth and Total Holders Increase 📈
– The network growth of WLD shows fluctuations, common in the dynamic crypto market, but overall, there’s steady growth over the long term.
– Despite price corrections from its all-time high of $12 on March 11, network growth looks stable at 103.
– The total number of WLD holders has been increasing, indicating sustained trust in the coin’s potential and a widening user base.
– As of April 10, the total holders reached 19,449, up from 17,218 a month ago.
Global In/Out of the Money Data 📊
– Over half of current WLD holders are ‘In the Money,’ with their price point above the average purchase price.
– 2,150 addresses hold 6.3 million WLD at an average purchase price of $7.23.
– A significant support zone is seen with 996 addresses holding 12.38 million WLD at an average purchase price of $5.31.
Price Prediction: Battle Near $7 💰
– WLD is testing key support levels, with technical indicators showing a battle between bears and bulls.
– The coin is below the 50-day EMA and slipped under the 20-day line, indicating a struggle.
– RSI above 40 and a bearish MACD crossover show bearish pressure, with a need for bullish momentum to push towards $8.
– Failure to maintain buying pressure could lead bears to push the price below $6, negating bullish sentiment.
Hot Take: What Lies Ahead for Worldcoin (WLD)? 🔥
As Worldcoin (WLD) shows signs of recovery and potential growth, the journey to $8 intensifies. With network growth on the rise and an expanding holder base, the coin’s resilience is evident. However, the battle near $7 remains pivotal, requiring strong bullish momentum to reach the coveted $8 mark. Keep a close watch on the technical indicators and market sentiment as the price action unfolds in the coming days. Will Worldcoin (WLD) overcome key resistance and soar to new heights? Stay tuned for more updates on this exciting crypto journey!