Worldcoin (WLD) price rise stopped at 60%
Worldcoin (WLD) price has impressed the market with its recent rise in value, which has also brought significant profits to its investors.
However, while some WLD holders, exhilarated by the gains, have moved to secure it, others appear to be fighting the downside that a sale would result.
Worldcoin whales resist authority
The price of Worldcoin rose 60% in just three days, more than some altcoins recorded in days. While the price rally took WLD from $1.7 to $2.8, it was only able to recover less than half of the 62% losses recorded in June.
Naturally, to prevent losing these gains, WLD holders moved to sell. This is visible in the significant rise in active deposits, a metric used to measure the flow of tokens from investors' wallets to exchanges' wallets.
As the metric rose to a four-month high, it became clear that efforts were in line with profit taking.
But from appearances, this was mainly among ticks where the whales were doing just the opposite.
It appears that Worldcoin whales are adding to their inventory rather than selling it. Addresses holding between 1 million and 10 million WLDs collected approximately 13 million WLDs worth over $36 million within three days.
Past aggregations of these whales have led to recoveries, with cases recorded in February and May. However, the same is not expected this time as there is a downtrend from taking profits opposing the bullish signals.
WLD Price Forecast: A struggle is coming
Worldcoin's price, trading at $2.8 at the time of writing, has failed to break the resistance at $3.0, which has held WLD for a month now. The likely outcome is a drop to $2.5, which will act as support for the digital asset.
This may lead to a consolidation of the WLD within the mentioned range until a bearish or bullish signal changes the outcome.
If bearish signals were to change the course of WLD, a correction would follow that would send WLD to $2.0, erasing recent gains and invalidating the neutral bullish hypothesis.
