cryptocurrency The industry remains mixed as top tokens continue to see a steady increase in selling pressure. Moreover, top altcoins continue to trend near important support levels. This shows that the sector is likely to complete this month with a decline.
On the other hand, worldcoin Its price recorded a 9% jump in the past day. However, it recorded a correction of around 24% in the last seven days and 45.74% in the last 30 days. On a positive note, the YTD of this altcoin is +38.61%, indicating a positive outlook in the long-term perspective.
WLD Keeps Price Above Important Support Level
Worldcoin displayed a neutral trend in the first two months of 2024, trading in a closed range between $1.70 and $2.91. As market volatility increased, the bulls gained momentum. In this context, it jumped over 443% in 32 days, resulting in the WLD token registering a new ATH at $11,820.
However, the bulls lost momentum after recording ATH. Since then, the price has traded under bearish influence, highlighting the increasing selling pressure in the crypto industry. Additionally, the SMA is showing a sustained decline, indicating a negative price movement for the WLD price in the coming days.
Technical indicator MACD shows a solid red histogram on the chart, highlighting bearish price sentiment in the crypto space. Moreover, the averages are showing a steady decline, indicating a negative price movement for the altcoin in the coming period.
Will Worldcoin Price Rise Again?
If the market holds the price above the $4.40 support level, the bulls will gain momentum and test the $6.37 resistance level. Holding the price at this level would set the stage for Worldcoin to attempt to test the upper resistance level of $7.65 over the next week.
Conversely, if the bearish trend reverses, the price will break the support level at $4.40 and drop to test the low at $2.915 in the coming period.
