The post Worldcoin reaches 11-month low despite 24-hour recovery appeared on BitcoinEthereumNews.com.

The value of WLD, Worldcoin, has recently dropped in comparison to its performance over the previous 11 months. The trend was observed despite the ongoing efforts of the crypto market to recover from the collapse that occurred in the first half of August this year. As of writing this article, WLD has gained 8.58% in the past 24 hours and is currently trading at $1.73. All the major SMAs signal a downtrend for the token. It is also struggling to maintain key resistance levels. Even the FGI indicates bearish sentiments around it. There is an uptick in the trading volume and Open Interest but the direction of WLD remains unknown. External factors, such as macroeconomic factors and the performance of BTC, will likely affect Worldcoin in the future. WLD remains up by 13.63% in the last 7 days and down by 24.62% in the last 7 days. There is a notable upswing of 8.74% in trading volume, as well as a surge of 9.50% in the market cap. One of the key resistance levels is $1.70. It is currently being evaluated and will continue to be tested for the duration of the current month. The next support level rests at around $1.65, followed by $1.55. A fall to $1.65 would suffice for further declines on the price chart. Worldcoin is still among the top 100 cryptocurrencies worldwide, but that is not exactly what the community is hoping for. Extremely high volatility encourages investors to chase profitability before the market collapses or the Federal Reserve ends up disappointing the market. The Feds are less likely to disappoint, but it is safer to keep some margin for it. Bitcoin‘s performance is poised to rise in the coming years. The Federal Reserve’s decision will directly impact it. Furthermore, it could draw inspiration from…

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Filed under: News - @ August 23, 2024 10:19 am