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Worldcoin (WLD) anticipates a rebound as TD Sequential issues a buy signal. Analysts predict a rise above $3, despite a recent 11% decline and overall market recovery.
Worldcoin (WLD) Faces Downward Trend but Analysts Predict Imminent Rebound Above $3
According to CoinGape, in the past week, the price of Wordcoin (WLD) has been trending downward, with the traders losing ground on the $2.80 support. Crypto analysts have suggested that the selling pressure may diminish, and a WLD price rebound may be imminent despite the 11% decline reported. The 30-day price dip, which represents a 46% decrease from the monthly maximum of $5, is concurrent with this decline.
Analysts anticipate a rebound despite the adverse momentum influencing the price between an intra-day high and low of $2.77 and $2.58 over the past 24 hours. On Saturday, Ali Charts, a crypto analyst, predicted that WLD would surpass the $3 resistance. He predicted an optimistic reversal of one to four candlesticks, as the WLD 3-day price chart displayed a TD sequential and a buy signal.
This recovery is consistent with the entire crypto market, which has recovered by 0.65% in its market capitalization to $2.25T despite the bearish week. At press time, Worldcoin was still adverse, with a price of $2.59, a 3.76% decline from the 9ntra-day high.
WLD's market capitalization and 24-hour trading volume declined by 3.21% and 28.13%, respectively, to $664,032,803 and $105,990,928 in conjunction with this bear rally. This decrease in market capitalization and trading volume indicates a reduction in investor interest during the price decline.
Worldcoin Partners with Alchemy to Enhance World Chain, Aiming to Boost Investor Confidence and WLD Price
It is anticipated that Worldcoin's recent partnership with Alchemy to introduce the World Chain will significantly influence its market trend. This partnership aims to enhance the World Chain's capabilities and throughput by integrating advanced blockchain technology.
Alchemy's support is anticipated to bolster Worldcoin's services, increasing investor confidence and positively influencing the WLD price as Worldcoin launches its World ID orb verifications in Europe.
Additionally, the consequences of the advancements in AI technology, particularly Nvidia's ascent to the market, demonstrate the necessity of high-end processors and AI tools to facilitate blockchain and cryptocurrency systems. Nvidia's market capitalization of $3.335 trillion, which the AI industry has bolstered, indicates a favorable outlook among technology firms. This outlook may extend to crypto, potentially affecting coins such as Worldcoin.
Technical Indicators Signal Bearish Control Over Worldcoin (WLD) but Hint at Potential Bullish Recovery
Technical indicators on the WLDUSD price chart indicate that the bears are in control.
The Moving Average Convergence Divergence (MACD) motion in the negative region indicates that adverse pressure will grow if bulls fail to intervene. Nevertheless, the bear's influence may diminish as the histogram remains in the positive area.
Furthermore, the market is oversold, as indicated by the Relative Strength Index (RSI) rating of 24.59. This trend suggests a bullish recovery, as the oversold position establishes the foundation for heightened purchasing pressure as traders capitalize on the decline.
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