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Worldcoin (WLD) has been trading in a consolidation zone between $4.3 and $6.2 for the past two months. This sideways price movement suggests a balance between buyers and sellers.
Currently, WLD is experiencing an upward trend with its sights set on breaking above the $6.2 resistance level. A successful breakout could signal a new bullish phase for the altcoin.
If the price falls below the crucial $4.3 support level, a head and shoulders pattern could emerge, potentially leading to a further price decline and a retest of the rising trend line support.
According to IntoTheBlock’s data, 2.98 million WLD are nearing a profit zone (bought between $4.87 and $4.88). With the current price hovering around $4.84, these investors may soon be incentivized to sell.
On-Chain Analysis
İnvestors are moving their WLD off exchanges, potentially indicating a bullish sentiment. The price is currently between the lower and middle bands, suggesting low volatility and a potential recovery from oversold conditions. A neutral reading of -0.01 indicates investor indecision.