Saturday, February 24, 2024

WLD Price Surge: Opportunities and Risks for WLD Investors.

On December 16, there was a sharp increase in buying demand for Worldcoin (WLD), pushing its price up by 86%. Nevertheless, the daily candlestick concluded with a 54% gain as investors started to book profits. Future moves up to new all-time highs for WLD are probably going to consolidate until new positive momentum ignites them.

Price of Worldcoin to stabilize
After listing on July 24, the price of Worldcoin fell 59% and began to swing sideways. This kind of price behavior usually occurs when a currency that is greatly anticipated is listed on large exchanges such as Binance, Coinbase, Bybit, and so on.

From November 12 to December 15, the price of Worldcoin fluctuated between $2.419 and $2.653. WLD put up a local top at $4.592 and initiated an 86% recovery on a retest of the range’s bottom boundary. It’s interesting to note that this level almost exactly matches the 59% wick’s 79% retracement level that developed following the token’s listing on July 24.

Prospects for WLD consolidation
Investors could anticipate a pullback to the 50% and 62% retracements of the range from December 16 at $3.504 and $3.243, respectively, in the future. The 70.5% retracement level at $3.058 may also be labeled in certain circumstances.

In any case, there is probably going to be a little run-up that aims to retest the local peak at $4.592 after a testing of these important levels. If this barrier is broken, the all-time high of $5.290 would be contested, and new highs would eventually be reached at $6.633.

With this move, the 70.5% retracement level of $3.058 would have been reached, representing an 115% gain. After the current surge, the price of Worldcoin is clearly expected to rise. The bullish thesis would be refuted if WLD reversed course and turned the $2.419 support level into a resistance barrier, resulting in a lower low.

In that scenario, the price of Worldcoin might drop 16% to $2.419 and then return to the $2.037 support level.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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