**Worldcoin ($WLD) Shows Signs of Recovery Amid Market Challenges**
Worldcoin ($WLD) has regained momentum, climbing back into the $2 range. However, the majority of its holders, approximately 71%, are still facing losses, which is helping to reduce immediate selling pressure as investors wait for a stronger price rebound. Earlier this year, WLD peaked at nearly $12 before experiencing a significant decline, losing about 69% of its value. Despite the recent recovery, only about 23% of investors are currently seeing gains
On the social media front, Worldcoin has witnessed increased engagement, with its 7-day Moving Average Social Dominance rising from 0.021% to 0.30%. This surge coincided with a major funding announcement from OpenAI, reflecting the connection between the two organizations through co-founder Sam Altman
From a technical analysis perspective, WLD has shown bullish signals, particularly the "golden cross" pattern observed on October 6. Analysts are optimistic, suggesting that if current momentum continues, WLD could test resistance levels at $2.18 and possibly rally further to $2.47. Conversely, if the market experiences a downturn, key support levels are established at $1.59, $1.51, and $1.38
In summary, while Worldcoin has made strides toward recovery, the prevailing market conditions and the significant percentage of holders in loss will continue to shape its short-term performance. Investors should monitor technical indicators and social sentiment for further insights into WLD's trajectory.
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