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Is Worldcoin (WLD) Price Aiming at Recovery Despite Losing $3?

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Worldcoin (WLD) price is forming lower lows on the daily chart as the broader market skepticism continues to grow.

The investors, however, could change this as their optimistic outlook just needs to meet bullish actions.

Worldcoin Investors Are Hopeful

Worldcoin’s price, trading at $2.7, has marked a considerable decline in the last couple of days. However, this has still not convinced the WLD holders to offload their holdings to offset their losses. 

This is evident upon observing the active addresses by profitability. At the moment, the total number of participating addresses in profit is less than 3%. Generally, when these investors dominate 25% of the activity, a concern of profit taking rises.

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However, this is not a concern for WLD as it is far below the threshold above. This means that Worldcoin investors are not looking to sell their holdings for now. 

Worldcoin Active Addresses by Profitability. Source: IntoTheBlock

Combining that with the Market Value to Realized Value (MVRV) ratio provides an optimistic outlook. The MVRV ratio assesses investor profit and loss. Currently, Wordlcoin’s 30-day MVRV stands at -35%, indicating losses, which may lead to buying pressure. 

Historically, MVRV between -10% and -20% usually signals the start of rallies for the altcoin, marking an opportunity zone for accumulation. This could lead to a surge in price for the altcoin.

Read More: How to Buy Worldcoin (WLD) and Everything You Need to Know

Worldcoin MVRV Ratio. Source: Santiment

WLD Price Prediction: Awaiting a Bounce-Back

Worldcoin’s price fell below a crucial support level of $3. The ongoing correction over the past two days has resulted in a 45% drop from $4.5. If the WLD investors move to add more tokens to their holdings, the altcoin could take back $3 as support.

This would enable a surge in Worldcoin’s price, pushing it back up to $4.0. Breaching it would wipe out a significant portion of the investors’ losses.

Read More: Worldcoin (WLD) Price Prediction 2024/2025/2030

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Worldcoin Price Analysis. Source: TradingView

But if WLD continues to decline, it could lose support at $2.5 and fall to $2.0. Slipping below this would invalidate the bullish thesis, resulting in extended losses.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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