😱What is happening with the Worldcoin cryptocurrency that is not joining the bullish rally?☝️
🌎 WLD is struggling to surpass the $2 mark, which has become a strong resistance. The world token (WLD), from the eponymous digital identity protocol that until last month was called Worldcoin, was slightly favored this week by the bullish sentiment dominating the cryptocurrency market.
🤯 Driven by the rise of Bitcoin (BTC) to a new all-time high following Donald Trump's victory in the United States elections, the price of WLD, which started the week trading at USD 1.7, rose to slightly exceed USD 2. However, it then fell to around USD 1.9, showing a 15% increase since Monday.
A resistance is a temporary price zone of maximums due to the greater supply than demand found there. Although this is not inherently limited to round numbers, it frequently occurs at such levels due to trader psychology. That is why it is not surprising that this happened in the USD 2 range.
Furthermore, the area around USD 2 has also functioned as resistance for WLD just over a month ago. The market tends to repeat strong psychological barriers from the past, so it makes sense that the current rise has temporarily stalled in this place.
Do your own research (DYOR) ☝️💡
