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Worldcoin (WLD) is the 95th-ranked crypto at press time. It rose 22% in intraday from a critical demand zone after a steep fall alongside the global market this week.
The WLD token increased by 27% in market value and 7% in trading volume in the last 24 hours. CoinMarketCap data showed that the market cap was $559.41 Million, and its trading volume was $269.25 Million.
Additionally, per its tokenomics, there were 321.5 million WLD tokens in circulation, which made 3.21% out of the total of 10 Billion tokens.
What is the Top Analyst’s Take on Worldcoin (WLD)?
An optimistic tweet post on X came into sight recently, where the analyst @CryptoBullAtom shared one of his chart drawings of WLD price for his giant fan following.
$FET & $WLD are two most strong AI coins which alway send hard.
— aTOm👽 (@CryptoBullAtom) August 5, 2024
These are some strong levels for them between the grey zone for accumulation.
I added some around here, haven’t aped fully into them. But I’m bing watching them & will see if market confirms short reversal so can… pic.twitter.com/KjRMWEfJgE
He further stated that Worldcoin happens to be one of the strong AI coins, which could send its price above very robustly.
The WLD token was also at the accumulation zone, where the analyst aped some of the quantities for future optimism. On the confirmation of the trend to resume, he wishes to go all out in Worldcoin. So, investors must be prepared and cautious before stepping in (DYOR).
Decoding What Happened in the WLD Token Over Its Technical Chart
According to TradingView, from an all-time low (ATL) to an all-time high (ATH), the WLD price showed a magnificent surge of more than 6600%. From the low registered on July 24th, 2023, of $0.1503, Its current price has traded 900% higher than its ATL price.
Likewise, in (WLD/USD-BINANCE), the ATH was registered on March 9th, 2024, when the price peaked at $11.975. Comparatively, the price at press time was nearly 85% down from its ATH level.
The uptrend in the first quarter of 2024 from $2 to $11 was short-lived by time, but gains were massive in a short period.
However, the achieved peak in WLD showed instability, where bears took advantage. The price dropped from mid-March to the foundational support zone at $1.30.
The recently acknowledged bullish spike globally from stock markets to the crypto market signified the change of wind in the bulls’ favor.
But, it has yet to be confirmed, as in WLD, confirming a bullish trend start would be the sustenance above $3.0.
Insights Derived from Technical Indicator
The indicators showed bearish signs, as EMA bands showed the price has traded beneath the bearish crossover built in mid-June. The MACD was at -0.2019, whereas the histogram was at -0.0512.
Despite others indicating major details, the RSI showcased minor details corresponding to the intraday bullish spike, which the RSI presented by a bounce back from oversold territory at 36.79.
Therefore, if the WLD price resurges back, the barriers above could be $3.31 and $4.41, respectively.
However, if the bearishness continues, the bears could target the $1.30 and $1.00 support levels, respectively.