Yahya 
Worldcoin (WLD) has followed its falling trend over the last two weeks, which has a big impact on investor morale. Even with a little increase in mid-July, the Worldcoin has failed to keep any gains as the bearish market keeps the Worldcoin below significant moving averages.
Alameda Research now owns approximately 24 million WLD tokens, but only exchanged 205,387 WLD tokens for around $352,000. This action had no impact in changing the negative mindset because the WLD price sank to a new 52-week low of $1.30, a clear departure from prior levels.
WLD, with a 24-hour trading volume of $116.5 million, is now trading at around $1.65 depending on most current data. With a market value of $564.2 million, the Worldcoin represents the continuous depressing attitude of the market. With a reading of 38, the Relative Strength Index (RSI) remains in the oversold zone indicating ongoing sales activity. Besides, it is worth pointing out the bearish tone of the outlook is supported by the Chaikin Money Flow (CMF) with -0.10.
Other data derived from CoinGlass reveal that short sellers effectively dominate the market, given the financing rate of -0.040%. That is, long positions are more expensive than short ones – negative financing rate underlines the bearish sentiment.
Moreover displaying a decline in investor activity is Worldcoin’s Open Interest, which fell by around 2.07% to $125.95 million. The daily active addresses have also seen a downturn, suggesting reduced investor confidence, which has fueled the continuous price decline.
Should Worldcoin fall short of the $3 mark, it may suffer further negative effects and may collapse to the levels of $1.50 or maybe $1.00. Conversely, a move over the 20-day EMA might lead the momentum toward $2, followed by a likely short-term advance to $2.30.
The continuous development activity within the Worldcoin ecosystem indicates that the project remains growing albeit at a slower pace, despite the negative market conditions.
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