Smart DEX traders and large investors recently offloaded their holdings of Worldcoin (WLD) at an average price of $3.85. Notably, sales made by Smart DEX traders occurred around $3.8, while whales opted to sell at $3.9, indicating a phase of profit-taking in the market.
Following these significant sales, there has been a noticeable absence of substantial buying activities, signaling a degree of caution among traders. Only a limited number have initiated new accumulation post-sale, showcasing a divided sentiment regarding the potential for medium-term investments.
Presently hovering around $2.4, investors seem to be adopting a wait-and-see approach towards Worldcoin.
The lack of immediate buying interest following considerable sales suggests the possibility of further price declines or consolidation at current levels. Should WLD manage to stabilize or exhibit signs of bullish sentiment, it might allure buyers back into the market.
Nevertheless, given the recent sell-off by major players, vigilance in observing the market response in the short run is advisable for traders and investors involved with Worldcoin.
Understanding the aftermath of the withdrawal of Smart DEX traders and whales could provide insights into the future price direction of WLD.
Price Analysis and Forecast for WLD
An analysis of the WLD/USDT pair reveals a prolonged downtrend experienced throughout the latter part of 2024, interrupted by a support level at $1.50 that was once a resistance point.
After a rally from $1.50 to $4, Worldcoin retraced to the $2.41 range, where profit-taking by Smart DEX traders and whales took place. If the support at $2.41 holds firm, WLD may pivot to reverse its recent downward trend.
The MACD indicator signals a potential shift in momentum, depicted by a decrease in downward momentum as the histogram shortens in the bearish region.
Notably, the repeated testing of the support level at $2.41 hints at sustained interest from buyers at this price point. Maintaining support at the order block could propel WLD to challenge levels above $4 in the near future.
A breakthrough of the $6.01 mark could prompt a retest of higher resistance at $9.519, paving the way for a bullish phase for Worldcoin during the early months of 2025.
Current Market Sentiment and Investor Positioning
Analysis of profitability around the current price level of WLD reveals distinct investor stances.
At $2.41, approximately 66.51% of addresses find themselves ‘in the money,’ indicating potential support as these holders are currently in a profitable position. In contrast, around 31.28% of addresses are ‘out of the money,’ reflecting positions at a loss.
If the price of WLD rises, the significant majority of ‘in the money’ addresses could help stabilize the market.
On the flip side, resistance might emerge near higher price points where holders are still at a loss, potentially acting as a barrier to substantial gains.
Understanding the distribution of profitable and unprofitable positions could significantly impact the price movements of WLD in the short term, as holders’ responses to breakeven points influence market dynamics.