Every altcoin possesses a unique characteristic, and Worldcoin (WLD) stands out for the global influence of its founder. Created by Sam Altman, Worldcoin entered the Web3 world with the goal of verifying real identities. However, it is now bracing for a downturn as a result of the fluctuations in Bitcoin’s price.
Worldcoin (WLD)
The events of Friday posed challenges for all, with significant support levels being tested. Today marks a crucial moment as the truth is unveiled. WLD Coin, which dropped below the 200EMA, was among the most affected altcoins on Friday, experiencing a 21% decline in a single day. Visit NEWSLINKER for the latest in technology news.
Artificial intelligence initiatives, particularly from OpenAI, have bolstered the price of WLD Coin thanks to Sam Altman. Yet, this has also led to a degree of price bubble formation. While some investors hoped for positive news and an upward trend, the decline in Bitcoin compelled them to exit, a decision that was not without reason.
WLD Coin Price Prediction
Currently priced at around $3.69, WLD Coin is below the critical resistance level of $4.45. A reclaiming of this resistance area could signal a continuation of a medium-term bullish sentiment. Conversely, if the price falls below $3.69, another downward movement towards $2.55 could ensue. The price outlook remains largely clear.
Examining the on-chain data offers further insight into investor interest. For instance, the number of active addresses on the network stood at 1963 in mid-May, a positive sign for WLD Coin. However, by June 9, this figure had declined to 1267.
Between May 12 and June 12, the price of WLD Coin dropped by 34%, mirroring the 35% decrease in active addresses, which returned to February levels. Alongside the overall negative market sentiment, the lack of investor interest played a significant role in WLD Coin’s performance.
In an optimistic scenario, a reclaiming of $4.45 could signal an upward trajectory. Factors such as inflation data and statements from the Fed, expected in a few hours, will be crucial. The risk of a drop to $2.55 remains a possibility.
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Disclaimer: The information provided in this article is not intended as investment advice. Investors should be mindful of the high volatility and risk associated with cryptocurrencies and conduct their own research.
