Worldcoin (WLD) experienced an impressive rally in February, driven by the hype surrounding AI tokens. The price of WLD surged by nearly 270% during this period. However, as the initial excitement subsides, investors are now seeking to cash in on their profits, leading to a potential downturn in the token’s value.
It is anticipated that Worldcoin’s price could potentially drop by 10%, a reflection of the rejection it faced when encountering the $7.9960 resistance level. If the price continues to decline, it may find support at the critical Fibonacci level of 61.8% at $5.7330, representing a 10% decrease from its current levels. Should this level fail to provide support, Worldcoin’s price may further plummet to the 50% Fibonacci level at $5.0340.
However, it is worth noting that as long as Worldcoin remains above the midline of the bullish breaker, situated between $3.7280 and $4.2160 at $3.9820, the overall outlook for the token remains bullish.
Santiment’s social dominance and social volume metrics indicate a decline in the number of mentions of WLD on social media platforms. This dwindling attention, coupled with increases in active deposits and exchange inflow metrics, suggests that investors may be preparing to exit the Worldcoin market, potentially exerting short-term selling pressure.
On the other hand, if the bulls manage to regain control of WLD, the token’s price could recover the losses incurred during the recent session and potentially reclaim the 78.6% Fibonacci level as support. In an extremely bullish scenario, Worldcoin may surpass the range high of $7.9960 and establish a new local top, ushering in a wave of positive sentiment.
In conclusion, Worldcoin’s price trajectory in the near future remains uncertain as investors weigh their options amidst shifting market dynamics and fading interest. While a potential decline may be on the horizon, there is still scope for a bullish reversal if certain key levels are breached.
FAQ
Q: What caused the rally in Worldcoin’s price in February?
A: The rally in Worldcoin’s price in February was driven by the hype surrounding AI tokens.
Q: How much did Worldcoin’s price surge during this period?
A: Worldcoin’s price surged by nearly 270% during the period.
Q: What is the potential downturn in the token’s value attributed to?
A: The potential downturn in the token’s value is attributed to investors seeking to cash in on their profits.
Q: What is the potential drop in Worldcoin’s price anticipated to be?
A: Worldcoin’s price is anticipated to potentially drop by 10%.
Q: Where may the price find support if it continues to decline?
A: If the price continues to decline, it may find support at the critical Fibonacci level of 61.8% at $5.7330.
Q: What other level may the price plummet to if the Fibonacci level fails to provide support?
A: If the Fibonacci level fails to provide support, Worldcoin’s price may further plummet to the 50% Fibonacci level at $5.0340.
Q: What is the midline of the bullish breaker for Worldcoin?
A: The midline of the bullish breaker for Worldcoin is situated between $3.7280 and $4.2160 at $3.9820.
Q: What is the overall outlook for the token as long as it remains above the midline of the bullish breaker?
A: As long as Worldcoin remains above the midline of the bullish breaker, the overall outlook for the token remains bullish.
Q: What metrics indicate a decline in mentions of Worldcoin on social media platforms?
A: Santiment’s social dominance and social volume metrics indicate a decline in the number of mentions of Worldcoin on social media platforms.
Q: What suggests that investors may be preparing to exit the Worldcoin market?
A: Dwindling attention on social media platforms, coupled with increases in active deposits and exchange inflow metrics, suggest that investors may be preparing to exit the Worldcoin market.
Q: What could happen if the bulls regain control of Worldcoin?
A: If the bulls regain control of Worldcoin, the token’s price could recover the losses incurred during the recent session and potentially reclaim the 78.6% Fibonacci level as support.
Q: What could happen in an extremely bullish scenario for Worldcoin?
A: In an extremely bullish scenario, Worldcoin may surpass the range high of $7.9960 and establish a new local top, ushering in a wave of positive sentiment.
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The source of the article is from the blog lisboatv.pt