Worldcoin (WLD) Anticipates a Rebound as TD Sequential Issues a Buy Signal. Analysts Predict a Rise Above $3, Despite a Recent 11% Decline and Overall Market Recovery.

According to CoinGape, in the past week, the price of Wordcoin (WLD) has been trending downward, with the traders losing ground on the $2.80 support.

Worldcoin (WLD) experienced a downward trend over the past week, with traders losing ground at the $2.80 support, according to CoinGape. However, crypto analysts predict a possible decrease in selling pressure and an imminent WLD price rebound, despite the reported 11% decline. This decline coincides with a 30-day price dip, representing a 46% decrease from the monthly maximum of $5.

Despite the bearish momentum influencing the price between intra-day highs and lows of $2.77 and $2.58 over the past 24 hours, analysts anticipate a rebound. On Saturday, Ali Charts, a crypto analyst, predicted that WLD would breach the $3 resistance, anticipating a bullish reversal of one to four candlesticks, as the WLD 3-day price chart displayed a TD sequential and a buy signal.

This recovery aligns with the entire crypto market, which experienced a 0.65% recovery in its market capitalization to $2.25T, despite the bearish week. At press time, Worldcoin remained bearish, trading at $2.59, down 3.76% from the intra-day high.

WLD’s market capitalization and 24-hour trading volume also decreased by 3.21% and 28.13%, respectively, to $664,032,803 and $105,990,928, in conjunction with this bear rally. This decrease in market capitalization and trading volume suggests a reduction in investor interest during the price decline.

Worldcoin Partners with Alchemy to Enhance World Chain, Aiming to Boost Investor Confidence and WLD Price

Worldcoin's recent partnership with Alchemy to introduce the World Chain is expected to significantly influence its market trend. This partnership aims to enhance the World Chain's capabilities and throughput by integrating advanced blockchain technology.

As Worldcoin launches its World ID orb verifications in Europe, Alchemy's support is anticipated to bolster Worldcoin's services, increasing investor confidence and positively influencing the WLD price.

Moreover, the implications of advancements in AI technology, especially Nvidia's ascent in the market, highlight the need for high-end processors and AI tools to facilitate blockchain and cryptocurrency systems. Nvidia's market capitalization of $3.335 trillion, largely bolstered by the AI industry, showcases a bullish outlook among technology firms, which may extend to crypto, potentially impacting coins like Worldcoin.

Technical Indicators Signal Bearish Control Over Worldcoin (WLD) but Hint at Potential Bullish Recovery

Technical indicators on the WLDUSD price chart indicate a bearish grip. The Moving Average Convergence Divergence (MACD) motion in the negative region suggests that if bulls fail to capitalize, the bearish influence will grow. However, the bear's impact may diminish as the histogram remains in the positive area.

Moreover, the market is shown to be oversold, evident in the Relative Strength Index (RSI) rating of 24.59. This trend hints at a potential bullish recovery, as the oversold position establishes the groundwork for heightened purchasing pressure as traders capitalize on the price decline.

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