Worldcoin (WLD) Price Eyes Rebound with TD Sequential Buy Alert
Wordcoin (WLD) price has been on a bearish trend in the last week, with the bulls losing golf of the $2.80 support. Despite this 11% decline, crypto analysts suggest that selling pressure may be dwindling, and a WLD price rebound may be looming. This decline coincides with the 30-day price dip, which reflects a 46% decline from the monthly high of $5.
Worldcoin (WLD) Price Eyes Bullish Rebound
Despite bearish momentum in the last 24 hours that swayed the price between an intra-day high and low of $2.77 and $2.58, analysts predict a rebound. Crypto analyst Ali Charts forecasted that WLD would recover above the $3 resistance on Saturday. According to him, the WLD 3-day price chart displayed a TD sequential and a buy signal, predicting a bullish reversal of one to four candlesticks.
The TD Sequential presents a buy signal on the #Worldcoin 3-day chart, predicting a rebound of one to four candlesticks for $WLD! pic.twitter.com/asmrxGgH38
— Ali (@ali_charts) June 29, 2024
Moreover, this recovery aligns with the entire crypto market, which despite the bearish week, has recovered by 0.65% in its market capitalization to $2.25T. Despite this, Worldcoin was still bearish at press time, with the price exchanging hands at $2.59, a 3.76% decline from the 9ntra-day high.
Accompanying this bear rally, WLD’s market capitalization and 24-hour trading volume dipped by 3.21% and 28.13%, respectively, to $664,032,803 and $105,990,928. This decline in market cap and trading volume reflects decreasing investor interest amid the price dip.
Alchemy Partnership & NVIDIA Influence
Worldcoin and its recent partnership with Alchemy to introduce the World Chain are expected to greatly affect its market trend. This partnership is designed to incorporate superior blockchain technology into the World Chain to improve its capabilities and throughput.
With Worldcoin launching its World ID orb verifications in Europe, the support of Alchemy is expected to strengthen Worldcoin’s services, which in turn can increase investor confidence and have a positive effect on the WLD price.
Furthermore, the effects of the developments in the AI technology, especially the Nvidia’s rise to becoming the largest company in the market, show that high-end processors and AI tools are crucial for the support of blockchain and cryptocurrency systems. Nvidias rise to a market capitalization of $3. 335 trillion, buoyed by the AI industry, shows a positive outlook among technology firms that may translate to the crypto space, potentially affecting coins such as Worldcoin.
WLD Price Analysis
On the WLDUSD price chart, technical indicators suggest that the bears have the upper hand.
The Moving Average Convergence Divergence (MACD) motion in the negative region points to an increased bearish pressure if bulls do not step in. However, with the histogram in the positive region, the bear’s power may be waning.
In addition, the Relative Strength Index (RSI) rating of 24.59 suggests that the market is oversold. This trend points to a bullish recovery, with the oversold position setting the stage for increasing buying pressure as traders take advantage of the dip.
Read Also: Worldcoin Price: Is Nvidia’s Rocketing Stock Sparking AI Crypto Boom?
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