21.3 C
May 18, 2024
BTC Hunts
Image default

Top Reasons Why Worldcoin Price Is Falling Today!

The post Top Reasons Why Worldcoin Price Is Falling Today! appeared first on Coinpedia Fintech News

The crypto industry has recorded a correction of approximately 1% within the past day, as the space has been trading in the red ahead of the weekend. Bitcoin continued to trade sideways for almost a week, indicating a reduced price action in the market.

On the other hand, the WLD price has recorded massive price volatility in the past week as the coin has experienced significant fluctuations in value. Further, Worldcoin added over 32% in value within the past month, resulting in the price gaining investor’s attention toward the coin.

Following the news of Sam Altman’s departure from OpenAI as its CEO, the token’s price dropped by more than 10%. This surprising news has deeply concerned investors about the future price action of this promising token.

Worldcoin Price Analysis
TradingView: WLD/USDT

Following the market pump, the WLD price gained over 25% in value, after which the price traded sideways briefly. During this time, the price made multiple attempts to break down, but the bulls held the price strong.

Recently, the price experienced another jump of over 48% within four days, following which the price was rejected at $2.600, after this, the price experienced a significant correction. The WLD price is presently trading with the dynamic support of EMA 200-day, indicating the possibility of a bullish reversal soon.

The MACD has displayed massive price volatility for over a week, indicating a massive ongoing buying and selling pressure in the market. Further, the averages show a sharp decline in the chart, suggesting the price will continue losing value in the coming days.

Will Worldcoin Price Increase?

If the Bulls push the price above the resistance level of $1.930, it will regain momentum and make a run to test its upper resistance level of $2.046 soon. Further, if the bulls continue to gain momentum, it will continue to rise and test its upper circuit of $2.260 in the coming days.

Maintaining the price at that level will set the stage for the WLD price to test its resistance level of $2.60 in the coming time.

Negatively, if the bears outrun the bulls, the Worldcoin price will experience a significant fall in its value and prepare to test its support level of $1.753.

Moreover, if the bears continue to hold the market movements, the WLD price will continue to lose momentum and fall to test its crucial support level of $1.636 in the coming days.

Related posts

Polygon (MATIC) Price All Set For 30-40% Rally

David Bradley

Did Whales Withdraw 160K Bitcoin Worth $4.B on Binance? Will BTC Bull Run Remain a Fantasy?

David Bradley

XRP Price: Third Wave Breakout Imminent, Says Analyst

David Bradley