07 Jun

Worldcoin's (WLD) price is experiencing a bullish trend driven by significant accumulation from whale addresses, a highly influential group of investors. This accumulation has helped WLD recover from recent losses with the support of other investors.

Investors in Worldcoin Build Up

Despite being above $5, Worldcoin's price is still attempting to overcome a significant barrier level. But since huge wallet holders have been adding WLD to their holdings on a regular basis, the whales might be the altcoin's salvation.

Over 6 million WLD have been purchased by addresses with between 100,000 and 1 million WLD over the last two weeks. The approximately $30 million worth of supplies indicates that investors are hopeful about a price increase.

Retail investors also seem to feel this way, as seen by their actions. We can see that there is not much room for selling after allocating the participation, or active addresses, based on profitability.

Less than 6% of all addresses using the network to make transactions in WLD are profitable. Although this cohort's dominance often indicates profit booking, WLD investors are currently HODLing overselling.

This could be advantageous for the price of Worldcoin as accumulation and little selling foster an environment that is conducive to a rally.

WLD Price Forecast: Ascent and Glow

The price of Worldcoin just recovered from the $4.53 support level after failing to break through the $5.14 resistance level. This barrier is essential to starting the healing process because it hasn't been breached since mid-May.

Bullish investor sentiment may enable WLD to break over this resistance and turn it into a support floor. This would allow the altcoin to surge to $5.64, which is the next significant hurdle.

A failed breach, however, would maintain the Worldcoin price stable between $5.14 and $4.53. A decline toward the latter would undermine the bullish premise by raising the possibility of a breakdown.

June 2024, Cryptoniteuae

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