$BTC đą Worldcoin (WLD) faces major test of support after 67% drop from all-time high
Worldcoin (WLD) price failed to enter the Ichimoku Cloud, indicating strong resistance at $5.
The price broke below the 200 EMA last Friday and saw a drop of 21% in a single daily candle following this price drop.
đž Worldcoin maintains support despite persistent downtrend
This significant price action set the tone for the subsequent downtrend observed during the analyzed period. Furthermore, the price has once again reached an important resistance level of $4.45, which served as support in the past and corresponds to a 4-hour Ichimoku reference plateau.
Currently, the price has stabilized around the $3.69 mark. Another major baseline plateau (Ichimoku) that served as a key resistance level during December 2023.
If the price manages to reclaim the $4.45 level and break above it, this could shift WLD's medium-term outlook towards a more positive trajectory. On the contrary, falling below $3.69 could cause the price to decline to lower support levels such as $2.55.
đž Worldcoin faces huge sell-off
The following weeks, June 2 and June 9, showed sharp declines, with prices falling to $4.25 and $3.81, respectively. This indicates persistent selling pressure and a lack of buying support at these levels.
On May 12, the number of active addresses was 1,963, indicating strong user participation. However, this metric steadily declined, falling to 1,267 on June 9.
From May 12 to June 12, 2024, the price of Worldcoin plummeted by 34%. Which underlines a period of significant downward pressure. The number of active addresses decreased by approximately 35.1%, returning to levels seen in mid-February 2024. What will happen?
