The price of Worldcoin (WLD) has been steadily rising recently, returning to the $2 area. Despite the recent surge, many holders of this cryptocurrency are still facing losses on their investments. Many investors are expecting the price to continue rising, and this expectation may lead to them being reluctant to sell their holdings, reducing the selling pressure and creating a favorable environment for a continued rally. This could indicate a potential uptrend for WLD.
Worldcoin Holders at a Loss: Could Less Selling Pressure Lead to Upside?
Although the price of WLD has increased by 8.12% over the past seven days, around 71% of its holders still suffered losses on their investments. This indicates that many investors bought the coin at prices higher than the current price, leaving the majority underwater.
To understand this situation more deeply, the âHistorical Breakeven Price Chartâ is an important tool. This chart shows the points at which most holders bought their tokens, providing insights into what percentage are in profit or in loss. Currently, about 23% of holders are in profit, while 6% are in breakeven, meaning the rest are in loss.
Given this situation, it is likely that current holders may prefer to hold their tokens rather than sell in the near term, hoping that the price will continue to rise. If this positive sentiment persists, it could reduce the selling pressure, which could contribute to strengthening the WLD bullish trend.
Increased interest in Worldcoin on social media
One factor that supports the possibility of WLDâs price continuing to rise is the increasing interest in it on social media. WLDâs average social dominance over the past 7 days is around 0.30%, a significant increase from 0.021% on October 3. This social dominance measures the percentage of engagement and mentions related to WLD compared to other cryptocurrencies in the market.
Historically, when WLD sees an increase in its social media dominance, it is usually followed by a surge in the coinâs price. WLD recently saw a surge in interest following a major funding announcement from OpenAI, which is run by co-founder Sam Altman, who is also one of the main founders of the Worldcoin project.
If this momentum continues on social media and interest in WLD increases, it could boost the likelihood of its price continuing to rise. A strong presence in social discussions is often associated with increased trading activity, which can fuel an uptrend.
WLD Price Prediction: Is $2.47 the Next Target?
Technical analysis indicators appear to support the bullish outlook for the currency. The WLD exponential moving average (EMA) lines are showing a bullish pattern, with all short-term EMA lines above the long-term ones. On October 6, these lines formed a âgolden cross,â a technical indicator that signals a possible strong uptrend.
The exponential moving average is often used to smooth out price data and give a clearer idea of ââtrends, and as the gap between the short-term and long-term EMA lines widens, it appears that the current uptrend may be strengthening.
If this positive momentum continues, WLD price could test the resistance level at $2.18. If this level is broken, the coin could head towards its highest level since July 2024 at $2.47, which represents a potential increase of 23.5% from the current price.
However, caution should be exercised in case the trend reverses. WLD has established support levels at $1.59, $1.51, and $1.38, which means a potential price drop of up to 31% could occur if the uptrend does not continue.
a summary
As investors continue to wait for further upside in WLD price, and with the possibility of selling pressure diminishing, the coin may still be in a position to continue its upward trend. With growing interest on social media, and technical analysis supporting further growth, Worldcoin may be in a strong position to rise to higher levels in the near future.
