The cryptocurrency industry has seen a negative trend this weekend, with top altcoins seeing corrections in their respective portfolios. Additionally, the artificial intelligence (AI) category continues to be under strong bearish influence, indicating a growing disinterest among investors.
Additionally, the WLD price has fallen by 1.81% over the past day and about 5% over the past week, which indicates an increase in bearish price action for the WLD token in the cryptocurrency space.
WLD token is about to test a major breakthrough:
After a bearish first month, the worldcoin price rose and reached an all-time high of $11,820 on March 10, surging 448.74% in valuation. However, soon thereafter, the bulls lost momentum and the price fell 64.38% over the next 30 days.
Since then, it has been range-bound between $4.210 and $6.025, highlighting the weak price action for altcoins in the market. On a positive note, WLD price has seen a 15.01% increase over the past day with a 24-hour trading volume of $327.68 million, while also seeing a minor correction in its valuation.
Market Sentiment:
The Simple Moving Average (SMA) shows a high probability of a bearish convergence on the one-dimensional timeframe, indicating that future price action is likely to be negative.
On the other hand, the technical indicator MACD shows that the green bar chart continues to decline, indicating an increase in selling pressure within the cryptocurrency space. However, the average shows a neutral trend, indicating uncertainty about future price movements.
Will the price of WLD coin rise?
If the market pushes the worldcoin price above the $6.025 resistance, the market bulls will regain momentum leading the altcoin to test its overhead resistance at $7.650. If the industry trades on the bullish sentiment, the WLD token will be ready to test its upper limit at $9.160 this month.
Conversely, if the bulls fail to break above the important resistance, the WLD token price will continue to trade with a bearish influence and fall to the critical support of $4.210.
(Personal opinion, not a recommendation)
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