Smart DEX traders and whales have sold Worldcoin at an average price of 3.85 USD.
If this order is maintained, WLD could redirect and reverse its recent losses.
Smart DEX traders and whales have sold Worldcoin [WLD] at an average price of 3.85 USD. Smart DEX traders sold at 3.8 USD while whales sold at 3.9 USD, indicating a potential profit-taking phase.
After these transactions, there is a noticeable absence of strong buying activity, indicating that traders are being cautious. After selling, only a few have started to accumulate again, showing a divided sentiment towards mid-term investment potential.
Currently, at a price of 2.4 USD, investors seem to be waiting and observing.
Source: iCryptoAI/X
The absence of buying activity right after large sell transactions indicates the potential for prices to continue to decline or maintain at this level. If WLD can stabilize or signal positively, it may attract buyers back.
See more: Worldcoin requested by Germany to delete illegally collected data
However, due to the recent sell-off from large players, careful monitoring of market reactions in the short term is needed for Worldcoin traders or investors.
This move could clarify the direction of WLD's price after smart DEX traders and whales withdraw.
Price action and predictions of WLD
Analysis of the WLD/USDT pair indicates a prolonged downtrend in the second half of 2024. This decline is interrupted by resistance turning into support at 1.5 USD.
WLD dropped to the order zone of 2.41 USD after recovering from 1.5 USD to 4 USD, where smart DEX traders and whales took profits around the peak. If this order zone is maintained, WLD could redirect and reverse its recent losses.
The MACD indicator shows potential momentum change, as the chart narrows in the bearish zone, implying downward momentum decrease.
Source: TradingView
Furthermore, WLD has tested this support level multiple times, indicating sustained investor interest at this level. If the support zone at 2.41 USD is maintained, WLD could challenge levels above 4 USD in the short term.
A successful breakout above 6.01 USD could lead to a retest of higher resistance at 9.519 USD, marking a potential bullish phase for WLD in the early months of 2025.
Profits around the current price
The profitability of WLD around the current price reveals differing positions of investors.
At 2.41 USD, 66.51% of wallets are 'profitable', indicating potential support as these investors are in profit. Conversely, 31.28% of wallets are 'not profitable', indicating unprofitable positions.
If the price of WLD increases, a significant portion of 'profitable' could provide a stabilizing effect.
Source: IntoTheBlock
Conversely, there may be resistance near higher price points where investors are still at a loss, which could limit the increase.
The distribution of these profitable and unprofitable positions could affect WLD's price movement in the short term, as holders' reactions to breakeven points shape market momentum.
