Worldcoin Price Analysis 28/07: WLD’s Consolidation Continues Amid Bearish Winds – Investor Bites

SNEAK PEEK

• Worldcoin price analysis displays a negative outlook
• WLD is trading at $2.18, having lost 1.61 in the past 24 hours
• Resistance and support levels stand at $2.26 and $2.06, respectively

The latest Worldcoin price analysis shows that the cryptocurrency’s value has declined over the past few days. Since its launch date on July 24th, WLD has plummeted from its peak price of $3.58 toward its current market value of $2.18, representing a 33.69% drop in value.

The WLD/USD pair has been locked in consolidation mode since the price dropped below the $ 3.00 mark and has been trading in a tight range of $2.00 and $2.50, with bearish winds prevailing across the market. The selling pressure has prevented WLD from making a meaningful recovery, resulting in a continued decline in the coin’s value.

The resistance and support levels for WLD/USD stand at $2.26 and $2.06, respectively. As long as the bears remain in control of the market, the price will continue to decline toward the support level over the coming days. The $2.00 level needs to hold to provide some much-needed support for the digital asset.

WLD’s market capitalization stands at $240 million, and its 24-hour trading volume stands at $158 million, which is relatively low compared to other leading cryptocurrencies. They have both seen a drop of 1.63% and 18% in the past 24 hours, suggesting that the cryptocurrency is still struggling to gain traction.

Looking at the 2-hour chart above, it is clear that the bears are still in control of the market. DOT has formed a downtrend after the recent drop and is forming a series of green candlesticks at the lower end of the range. The RSI indicator has crossed below 50, signaling a further decline in the price over the coming days.

The Moving Average Convergence Divergence (MACD) is also moving downwards, indicating a bearish sentiment in the market. As long as the bears remain in the market, WLD/USD will likely continue its downward momentum and further decline toward the support level at $2.06 over the next sessions.

The Bollinger band width is expanding, suggesting the market is becoming increasingly volatile. WLD is trading alongside the middle band, indicating that WLD could break either side of the range in the coming days. A bullish breakout from the current trading range could open up further upside potential for WLD/USD, while a bearish break would lead to further losses.

Overall, Worldcoin’s price analysis shows bearish sentiment in the short term. WLD is struggling to make a meaningful recovery. It will likely remain trapped in the trading range unless the bulls can muster enough strength to break above the resistance level of $2.26.

Disclaimer: Cryptocurrency price is highly speculative and volatile and should not be considered financial advice. Past and current performance is not indicative of future results. Always research and consult with a financial advisor before making investment decisions.

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• Source: https://investorbites.com/worldcoin-wld-price-analysis-28-07/