The post Will Worldcoin plummet to new all-time lows? appeared on BitcoinEthereumNews.com.

WLD indicated bullish momentum after retesting key trendline support. Whale transactions and development activities signaled a potential reversal. Worldcoin [WLD] has witnessed a dramatic decline that has got investors concerned.  As it approaches an all-time low, the question arises — is this is the bottom, or is its long-awaited reversal coming? Let’s find out – WLD has been ranging between $6.5 and $4.2 levels for the last two months before breakdown from the $4.2 support level. The price has plummeted by around 21% since its breakdown on the 8th of June.  WLD has retested the trendline support-that has been retested several times-and it is steadily building bullish momentum. As of writing, CoinMarketCap priced WLD at $3.46, a 6.29% drop in the last 24 hours and a 20.83% drop in the past seven days. Its market capitalization was $834 million.  WLD’s volume surged by 16.03% to $174 million in the last 24 hours. Source: TradingView The stochastic RSI (2.70) indicated an oversold zone that could trigger a price reversal if the bullish momentum tightens it muscles. Is there a glimmer of hope for Worldcoin? AMBCrypto analyzed Santiment’s whale and development activity data to find out if they backed a reversal or a further dip. Development activity has been rising steadily, indicating investors confidence in long-term WLD viability.  Whale transactions had several spikes as well, suggesting that large holders might be accumulating as they found a key area to enter the market. This could trigger the price up for a potential reversal. Source: Santiment What does liquidation heatmap have to add? The liquidation heatmap reveals zones of high liquidation level are concentrated at around $4.0, which could act as price magnets and push the prices up. This suggested that the market had a bullish bias at press time, and that WLD was…

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Filed under: News - @ June 17, 2024 12:16 am