After several months of downturn, WLD has recently shown strong signs of recovery, mainly due to the gradual withdrawal of short sellers.

However, it remains to be seen whether this recovery can be sustained and break through new resistance at $4.75.

WLD has been in a downward channel for the past few months, with prices falling significantly, until recently when there were signs of demand picking up.

The recent price surge to $3.12 represents a 77.2% gain from its lows, showing a strong rebound.

However, this is not the first time WLD has tried to reverse its decline.

Earlier attempts failed to fend off bearish pressure, sending prices down nearly 90% from last March's highs.

This rally is different. WLD has been declining for a long time, and the price even fell below the February low, which should theoretically attract multiple parties to enter the market.

However, two recent major announcements by the Worldcoin Foundation acted as catalysts for shorts to retreat, extending the grant retention period and delaying the token unlocking program, unexpectedly causing a short squeeze that drove the price higher.

So, can WLD’s upward momentum be sustained? The retreat of the bears certainly gives it more room to rise, which explains why it has outpaced most mainstream cryptocurrencies.

However, the implementation of the unlocking plan may still become a destabilizing factor for market sentiment and may trigger fluctuations in demand.

In this case, we should remain cautiously optimistic and continue to pay close attention to the development of WLD.

If its upward momentum continues, (Exchange Junyang): BNB 000789 historical data shows that around $4.75 may become the next important resistance level. #山寨季何时到来？ #美国大选如何影响加密产业？ #以太坊ETF批准预期 #币安7周年 #美国6月CPI大幅降温 (Quanqingliu Junyang’s early review strategy analysis of Bitcoin BTC and Ethereum eth every Monday to Saturday, long-term recommendation of high-quality coins and live broadcast analysis) Follow the homepage to not get lost