[WLD] Price Recovery: Bulls Strengthen, Targeting $3 Mark Amid Better Sentiment

Over the past quarter, (WLD) has experienced a turbulent period, with its value falling to $2.52 as of the latest data, a drop of 64.90%. This drop is the lowest point since November 2023. A variety of factors such as regulatory pressure and investor profit-taking have led to this decline.

In March, WLD hit an all-time high of $11.82. However, maintaining this peak has become extremely challenging as oversold pressures have increased. According to the relative strength index (RSI), which measures momentum, the coin was severely oversold on July 1, with an RSI of 21.04. This shows that sellers have been exhausted, leading investors to take advantage of the opportunity to buy.

This is a key turning point. As of the latest reading, the RSI rose to 56.84, indicating that the trading environment is shifting towards a more balanced direction. In 24 hours, the price of WLD has risen by 6.13%, reinforcing hopes for a continued bullish trend.

The role of bulls and bears in determining price direction

The bull and bear indicators provide further insight into market dynamics. The tool tracks the ratio of significant buyers (bulls) to major sellers (bears). For WLD, there are currently more bulls than bears, which means that the price could rise to the $3 mark.

Recent changes in sentiment are worth paying attention to. The Worldcoin Weighted Sentiment Index, which was previously overshadowed by negative sentiment, has rebounded to 0.932. Positive sentiment can enhance demand and stabilize or even increase the price of tokens. If holders continue to maintain this optimistic attitude, WLD is unlikely to fall below the $2 threshold in the short term.

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