Each altcoin has its own unique characteristic, and for Worldcoin (WLD), it is the global impact of its creator. Worldcoin, founded by Sam Altman, entered the Web3 realm with the goal of authenticating real identities. However, it is now bracing for a downturn in response to the fluctuations in Bitcoin’s price.
Worldcoin (WLD)
The past week was a test for all, with significant support levels being challenged. Today is the day of reckoning, as WLD Coin, which dropped below the 200EMA, faced a substantial decline of 21% in a single day. Visit NEWSLINKER for the latest tech updates.
The efforts made by artificial intelligence, particularly OpenAI, have provided a boost to WLD Coin’s price, thanks to Sam Altman. Yet, this has also led to a certain level of price inflation. While some investors hoped for positive news and a surge, the fall in BTC prices forced them to exit. This was a rational decision.
WLD Coin Price Prediction
WLD Coin is currently trading around $3.69, below the crucial resistance level of $4.45. If this resistance level is surpassed, we could see a continuation of a bullish trend in the medium term. However, a drop below $3.69 might trigger further downward movement towards $2.55. The price outlook remains relatively clear.
Looking at the on-chain data, we can confirm investor interest. For instance, the number of active addresses on the network was 1963 in mid-May, a positive sign for WLD Coin. However, by June 9, this number had decreased to 1267.
From May 12 to June 12, the price of WLD Coin fell by 34%, while active addresses dropped by 35%, reverting to levels seen in February, highlighting the correlation. Apart from the general negative sentiment in the market, the lack of investor interest has also played a significant role in WLD Coin’s performance.
In an optimistic scenario, reclaiming $4.45 could signal an upward trend. Inflation data and upcoming statements from the Fed in a few hours will be crucial factors to watch. We have also mentioned the risk of a drop to $2.55.
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Disclaimer: The information provided in this article is not financial advice. Investors should be aware of the high volatility and risk associated with cryptocurrencies and conduct their own research.
