Worldcoin Price At A Crucial Level: Breakout Or Breakdown Ahead?
Worldcoin Price At A Crucial Level: Breakout Or Breakdown Ahead?
Worldcoin price suffered rejection from the 50 day EMA and slumped lower erasing the recent gains.
Despite the recent drop in the price Worldcoins still boasts a cumulative weekly gain of nearly 43%.
The drop in the 24 Hour active addresses in the last couple of sessions highlights a facing user engagement.
Worldcoin's recent bounce seemed to be taking a pause after suffering from the 50 day Exponential moving average. At the time of writing Worldcoin was hovering close to $2.59 losing nearly 12% in the last two sessions.
Despite the recent drop in the price, Worldcoin boasts a weekly gain of nearly 44%. WLD price hovers at a crucial zone from where bulls and bears both have equal opportunity to dominate the trend. However, the price hovers below the 200 day EMA suggesting a bearish trend prevailing in the long term.
The Worldcoin system centers on World ID, a global identity network that preserves privacy. World ID allows users to verify their humanness online ("Proof of Personhood") while safeguarding their privacy with zero-knowledge proofs. Currently, it has a live market capitalization of $731.92 million.
User Engagement In Worldcoin Dropped
The recent surge helped worldcoin erase its recent losses. The WLD price now hovers merely 8% lower than the monthly highs. Despite the recent surge, the bulls do not look confident for a bullish reversal as the price still maintains a bearish long term outlook which adds the risk of a selloff.
<iframe title="Santiment Chart: Price (WLD), Active Addresses 7d (WLD), Active Addresses 24h (WLD)" width="800" height="425" src="embed.santiment.net/chart?ps=worldcoin-org&pt=WLD&df=2024-07-11T18:30:01.984Z&dt=2024-07-19T18:29:59.984Z&emcg=1&emhwm=1&wm=price_usd;active_addresses_7d;active_addresses_24h&wax=0&wc=#26C953;#FFCB47;#FF5B5B&ws={"node":"area"};;" scrolling="no"></iframe>
Moreover, As per the data obtained from an on-chain analytics website app.santiment.net there has been a drop in the 24 hour active addresses in the last couple of sessions. The active addresses reflect the unique number of users that have taken part in a transaction.
The 24 hour active addresses have dropped from 880 to 450 suggesting a nearly 50% drop. The decreasing number of active addresses points to fading user engagement.
Worldcoin Price Nearing Fibonacci Golden Zone
The WLD/USD chart highlights a bounce back from the recent demand zone of $1.63. However, the long term bearish trend adds a risk of another selloff at the higher levels. WLD price has surpassed the 20 day EMA and currently seems to be struggling near the 50 day EMA.
While connecting Fibonacci from swing high at $5.13 to swing low at $1.65, the golden zone of Fibonacci appears between $3.3 to $3.8. Currently, WLD price seems to be hovering near the 0.38 level of Fibonacci.
Now, on the higher side, if the bulls are able to surpass the $3.8 level it may validate a bullish reversal and the price may rise towards the $5 level. Whereas, if the price suffers rejection near the $3.5 level, it may slump towards the $1.6 level indicating a bearish continuation.
What’s Next For Worldcoin?
Worldcoin price seemed to be taking a pause near the 50 day EMA after a 44% weekly gain. The price currently hovers below the 200-day EMA, indicating a long-term bearish trend. Active addresses dropped by 50%, suggesting lower user engagement.
Recently, WLD price took a rebound $1.63 however seemed to be struggling near the 50-day EMA. Now, If it surpasses $3.8, a bullish reversal towards the $5 is possible. otherwise, it may fall to $1.6. The Fibonacci golden zone is between $3.3 and $3.8, with the current price near the 0.38 level.
Worldcoin price suffered rejection from the 50 day EMA and slumped lower erasing the recent gains.
Despite the recent drop in the price Worldcoins still boasts a cumulative weekly gain of nearly 43%.
The drop in the 24 Hour active addresses in the last couple of sessions highlights a facing user engagement.
Worldcoin's recent bounce seemed to be taking a pause after suffering from the 50 day Exponential moving average. At the time of writing Worldcoin was hovering close to $2.59 losing nearly 12% in the last two sessions.
Despite the recent drop in the price, Worldcoin boasts a weekly gain of nearly 44%. WLD price hovers at a crucial zone from where bulls and bears both have equal opportunity to dominate the trend. However, the price hovers below the 200 day EMA suggesting a bearish trend prevailing in the long term.
The Worldcoin system centers on World ID, a global identity network that preserves privacy. World ID allows users to verify their humanness online ("Proof of Personhood") while safeguarding their privacy with zero-knowledge proofs. Currently, it has a live market capitalization of $731.92 million.
User Engagement In Worldcoin Dropped
The recent surge helped worldcoin erase its recent losses. The WLD price now hovers merely 8% lower than the monthly highs. Despite the recent surge, the bulls do not look confident for a bullish reversal as the price still maintains a bearish long term outlook which adds the risk of a selloff.
<iframe title="Santiment Chart: Price (WLD), Active Addresses 7d (WLD), Active Addresses 24h (WLD)" width="800" height="425" src="embed.santiment.net/chart?ps=worldcoin-org&pt=WLD&df=2024-07-11T18:30:01.984Z&dt=2024-07-19T18:29:59.984Z&emcg=1&emhwm=1&wm=price_usd;active_addresses_7d;active_addresses_24h&wax=0&wc=#26C953;#FFCB47;#FF5B5B&ws={"node":"area"};;" scrolling="no"></iframe>
Moreover, As per the data obtained from an on-chain analytics website app.santiment.net there has been a drop in the 24 hour active addresses in the last couple of sessions. The active addresses reflect the unique number of users that have taken part in a transaction.
The 24 hour active addresses have dropped from 880 to 450 suggesting a nearly 50% drop. The decreasing number of active addresses points to fading user engagement.
Worldcoin Price Nearing Fibonacci Golden Zone
The WLD/USD chart highlights a bounce back from the recent demand zone of $1.63. However, the long term bearish trend adds a risk of another selloff at the higher levels. WLD price has surpassed the 20 day EMA and currently seems to be struggling near the 50 day EMA.
While connecting Fibonacci from swing high at $5.13 to swing low at $1.65, the golden zone of Fibonacci appears between $3.3 to $3.8. Currently, WLD price seems to be hovering near the 0.38 level of Fibonacci.
Now, on the higher side, if the bulls are able to surpass the $3.8 level it may validate a bullish reversal and the price may rise towards the $5 level. Whereas, if the price suffers rejection near the $3.5 level, it may slump towards the $1.6 level indicating a bearish continuation.
What’s Next For Worldcoin?
Worldcoin price seemed to be taking a pause near the 50 day EMA after a 44% weekly gain. The price currently hovers below the 200-day EMA, indicating a long-term bearish trend. Active addresses dropped by 50%, suggesting lower user engagement.
Recently, WLD price took a rebound $1.63 however seemed to be struggling near the 50-day EMA. Now, If it surpasses $3.8, a bullish reversal towards the $5 is possible. otherwise, it may fall to $1.6. The Fibonacci golden zone is between $3.3 and $3.8, with the current price near the 0.38 level.
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