Worldcoin: Can WLD Reclaim $4 Amid Selloff From Smart DEX Whales?
2 min read
Smart traders and whales are taking profits as WLD declines but the $2.40 support is showing signs of holding.
Posted: December 20, 2024
By: Lennox Gitonga
Edited by: Jacob Thomas
sharing: yasmin Ayman
Worldcoin
Smart Dex Worldcoin traders and whales sold at an average price of $3.85.
If this continues, WLD could pivot to reverse its recent losses.
DEX traders and smart whales sold Worldcoin (WLD) at an average price of $3.85. Smart DEX traders sold at $3.8 while whales sold at $3.9, indicating a potential profit-taking phase.
Following these sales, there was a noticeable lack of significant buying activity, suggesting that traders are cautious. After the sell-off, only a few began to accumulate again, hinting at divided sentiment towards the mid-term investment potential.
Currently, at $2.4, investors appear to be taking a wait-and-see approach.
Source: iCryptoBinanceAI / X
The lack of immediate buying after the big sell-off suggests that further price declines or consolidation at these levels are likely. If WLD can stabilize or show signs of bullish sentiment, it could attract buyers again.
However, given the recent sell-offs by major players, keeping a close eye on the market response in the short term would be wise for Worldcoin traders or investors.
This close could illuminate the direction WLD price will take after the withdrawal of smart DEX traders and whales.
WLD Price Action and Predictions
The WLD/USDT pair analysis showed an extended downtrend throughout the second half of 2024. The decline was halted by a support-turned-resistance level at $1.50.
WLD declined to the $2.41 demand block after a rally from $1.50 to $4, as Smart DEX and whales made profits around the tops. If the demand block is held, WLD could pivot to reverse its recent losses.
MACD showed a potential momentum shift, as the histogram shorted into the bearish zone, indicating a decrease in bearish momentum.
WLD
Source: TradingView
Moreover, WLD has tested this support multiple times, indicating continued buyer interest at this level. If the demand block support at $2.41 remains intact, WLD could challenge levels above $4 in the short term.
A successful break above the $6.01 level could lead to a retest of higher resistance at $9.519, marking a potential bullish phase for WLD in the early months of 2025.
In/out of the money around the current price
WLD's profitability around the current price reveals the investors' advantageous positions.
At $2.41, 66.51% of addresses
It is ‘in the money,’ indicating a potential support level as those holding it are profitable. In contrast, 31.28% of addresses are ‘out of the money,’ reflecting unprofitable positions.
If the price of WLD rises, the vast majority being ‘in the money’ can provide a stabilizing effect.
WLD
Source: IntoTheBlock
Conversely, resistance could materialize near higher price points where holders were still in a state of confusion, which could cap gains.
Realistic or not, here's the WLD market cap in BTC terms
Realistic or not, here's the WLD market cap in BTC terms
This distribution of profitable and unprofitable positions can impact WLD price movements in the near term, as holders’ reactions to the feared points shape market dynamics.