The post Worldcoin WLD Hover Near 8 Months Low, A Buying Opportunity Found. appeared first on Coinpedia Fintech News
The Sam Altman’s crypto Worldcoin, WLD is under a corrective phase since it reached ATH on March 10, nearly 50% down in a month. The WLD Price is hovering near an 8-month low of $2.1, anticipating a pullback by historical buy the dip zone and prevent further decline.
As per Coinpedia markets, WLD is changing hands at $2.36 and moved 0.5% in 24 hours. While the price is now trading below all the moving averages, WLD needs a strong thrust to hold the price above $2.1 until the market conditions turn favorable.
Indicators show a possible reversal for WLD
WLD/USDT Chart reveals mixed technical suggestions, while the RSI has just recovered from an oversold zone to a neutral state, the MACD indicator shows a slight recovery, but weak trend.
An in-depth analysis shows WLD price is below the Ichimoku cloud and the conversion line (blue) is below the baseline (red), Indicating a bearish viewpoint. Additionally, the Average Directional Index (ADX) indicator enforces a strong trend at 44 but in a downward direction.
WLD Coin Traders Could Start Buying Now
While the price is facing sell-offs, WLD is in the recovery zone as none of the indicators are in a strong bearish trend. The altcoin is facing the highest dips since its launch which can trigger the buyers anytime to start accumulating.
The project has been regularly making fundamental movements, as the latest news of Worldcoin hiring former X, Google, and Apple execs in the panel. World coins also partnered with Alchemy in the process of enhancing digital ID on blockchain.
In another view, the MVRV ratio is currently at -28%, registering losses that could lead to a rebound. As seen previously, WLD has experienced recovery in the MVRV between -15% to -30%, representing a buying opportunity.