WLD Price Witnessed Strong Profit Booking: More Decline Ahead?

• Worldcoin witnessed a huge surge in its trading activity in the last 24 hours.
• In the last 30 days, the WLD coin price traded in green for 16 days.

Since its launch, the Worldcoin (WLD) price has witnessed an explosive rise, advancing by more than 1000%. However, from March 2024, the token has hit a roadblock as the profit booking has taken center stage. This profit booking has led the WLD price downward.

WLD Price Shows Strong Market Liquidity

At press time, WLD crypto was one of the top 100 crypto assets in the global crypto market. Furthermore, the token ranked at the #88 position in terms of market cap, with a market cap valued at $645.452M.

The token’s traded volume also advanced by 100% in the last 24 hours, resulting in a traded value of $190.886M. This was 28.9% of the token’s market cap, showing strong WLD price liquidity. This made buying and selling of the token easier under different market conditions.

The token’s fully diluted market cap was worth $14.811B, and only 43% of the token’s total supply was in circulation. Its supply inflation was extremely high, resulting in 225.85%.

Moreover, the Worldcoin price declined by 87% from its all-time high of $11.82. The token achieved its all-time high price six months ago.

Larger Number Of Worldcoin Token Holders Witnessed A Loss

The WLD crypto’s Total Value Locked declined to $80.189B, and its stablecoins market cap was valued at $169.932B. Moreover, the token had 28.5K holders, and its top 10 holders held 82.63% of the supply.

The large holders’ concentration in the Worldcoin token was 92%. The WLD price correlation with Bitcoin was 0.89. Also, at press time, only 5% of token holders were in profit, while 88% were in loss.

Moreover, 12% of the token’s holders held it for over 1 year, and a consistent rise in some token holders was recorded.

WLD Token Price Traded In A Small Range: Is It About To Skyrocket?

The most recent price action of the WLD price showed a strong downtrend on the daily chart. The token price followed a strong downtrend, consistently declining for the last eight months.

The declining behavior of the Worldcoin price led to a falling wedge pattern. The price broke out above the falling wedge pattern but lacked volume and bullish momentum.

Since the breakout, the price has traded inside a small range, leading to a small consolidation zone. It must take out two crucial levels, as two strong resistances were at higher levels.

Moreover, if the WLD crypto price breaks above the level of $3.30 and sustains above the same, it might lead to higher levels.

What Do Technical Indicators Show About WLD Price?

The WLD price traded below various EMAs. Following this, the 50-day and the 200-day EMAs traded in a death cross. This exhibited a strong downtrend in the token price.

The Supertrend indicator gave a strong sell signal as the price traded below the Average True Range.

WLD/USD Chart by TradingView.com

The MACD and the signal line traded negatively, and the metrics overlapped. This exhibited weakness and volatility in token price, which was followed by the formation of bullish histograms.

The RSI further hit the 50-level and traded above the 14-day SMA. This again supported volatility in the WLD price.

The WLD crypto price might take support at $0.950 and $1.30, followed by the resistance levels of $5.0 and $7.0.

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.