During the last 24 hours, Worldcoin (WLD) has seen a remarkable spike in price from approximately $1.48 to about $1.69, which is also a significant rise, showing strong buying at low prices. In the short term, this price recovery from the low of $1.48 to stabilizing near $1.69 could be taken as an indication of positive sentiment.
The market cap for Worldcoin has grown by 16.39% alongside the rising price. This suggests that more investors are starting to buy into the circulating supply and becoming confident with it, even though prices increased while the volume traded decreased by 13.69%.
This reduction in volume might mean that the increase in price is due to lack of sell pressure rather than actual buying action taking place on the exchange floor; notwithstanding an upturn in cost, transactions have fallen.
Worldcoin’s recent performance outlook differs based on the technical indicators used. The MACD line for instance is below the signal line but close to crossing above it implying possible short-term gain or deceleration of downward trend; nevertheless, this does not alter its bearish direction because MACD histogram remains negative.
The Chaikin Money Flow (CMF), on the other hand, oscillates around zero indicating neutrality with respect to buyers' and sellers’ actions towards WLD tokens; hence traders might interpret this as a consolidation phase or indecision among them.
MFI reached 38.19, which was very close to the lower boundary of the typical range—an undervalued state or weak demand here cannot be ruled out yet; however, if interested buyers were convinced that Worldcoin was oversold, then such a situation would lead to an increase in its price.
Recently, data from Santiment indicates consistent accumulation since July 27 through an increasing balance of addresses holding between 1 million and 10 million WLDs as well as a potential bounce in prices due to reduced selling pressure; thus, one could suggest that accumulation is taking place at present.
Bulls and Bears Indicator reveals a similar amount of buying and selling activity in the past seven days as bulls traded 124.40 million WLD tokens while bears exchanged 124.48 million tokens; based on this almost equal distribution, prices might consolidate quickly since there has been relatively high selling pressure than buying.
This means that currently, the WLD/USD price has been experiencing lower highs coupled with low lows indicating that we have a downtrend pattern. A falling Wedge is also a critical pattern to note when discussing downtrends because it usually indicates a potential trend reversal or deceleration towards the bottom side; RSI stands around 34.56, close to being oversold territory so if market sentiment shifts, then the asset may be considered underbought and potentially offering room for some up move in its price.
Currently, the price is near to the lower boundary of the wedge which represents a critical area where either rebound or further breakdown could happen. A break above the upper bound of this wedge on higher trading volume will indicate the end of current bearishness from which a new uptrend can emerge instead; conversely falling be