Worldcoin [WLD] has witnessed significant selling pressure from Smart DEX traders and whales, with transactions occurring at an average price of $3.85. While Smart DEX traders sold at $3.8, whales offloaded their holdings at $3.9, indicating a phase of profit-taking in the market.
Following these sell-offs, there has been a noticeable lack of substantial buying activity, signaling a sense of caution among traders. Only a small number of investors have started accumulating WLD again post-sale, highlighting differing sentiments regarding its medium-term investment prospects.
Currently priced at $2.4, investors seem to be adopting a wait-and-see approach to gauge the future direction of the coin.
The absence of immediate buying interest post-significant sales suggests a possibility of further price declines or consolidation at current levels. For WLD to attract buyers back, it would need to demonstrate stability or exhibit positive market sentiment.
However, given the recent sell-offs by major players, it is advisable for Worldcoin traders and investors to closely monitor market reactions in the short term.
This period of observation could shed light on the trajectory of WLD’s price following the exit of Smart DEX traders and whales.
WLD Price Analysis and Forecast
A detailed examination of the WLD/USDT pair reveals a prolonged downtrend experienced in the latter part of 2024. Amid this decline, a significant level of support was identified at $1.50, which later turned into a crucial resistance level.
After rallying from $1.50 to $4, WLD retraced to the $2.41 order block, where profits were secured by Smart DEX traders and whales. Should this support hold, WLD could potentially pivot towards reversing its recent losses.
The MACD indicator suggests a possible shift in momentum, as the histogram shortened while in the bearish zone, indicating a reduction in downward pressure.
Repeated tests of this support level suggest sustained interest from buyers at $2.41. If this order block support remains unbroken, WLD might aim for levels beyond $4 in the short run.
A successful breach above $6.01 could pave the way for a retest of higher resistance around $9.519, ushering in a bullish phase for WLD in the early months of 2025.
Profitability Analysis at the Current Price Level
An evaluation of WLD’s profitability at the current price reveals distinct investor sentiments.
At $2.41, approximately 66.51% of addresses are ‘in the money,’ suggesting a potential support level as these holders are currently in profit. In contrast, 31.28% of addresses are ‘out of the money,’ signifying positions that are currently at a loss.
If WLD’s price appreciates, the significant majority of ‘in the money’ addresses could act as a stabilizing force in the market.
Conversely, resistance may emerge as the price approaches levels where holders remain in a loss-making position, potentially limiting upward movements.
Examining WLD’s market capitalization in BTC terms, regardless of its realism, provides further insights into the coin’s positioning within the market.
The distribution of profitable and unprofitable positions among investors could play a crucial role in dictating WLD’s price dynamics in the near future, as market reactions at breakeven points influence overall market trends.