Worldcoin Token (WLD) Price Analysis & Market Overview - March 11th, 2024

The traded volume for the Worldcoin token has decreased by 37% in the last 24 hours. This has resulted in a traded value of $96.0M, and the crypto volume ranking was #51

The Worldcoin token price witnessed a decline of 3.06% in the last 24 hours. After this, the token’s price was valued at $2.11 at the time of writing, according to CoinMarketCap.

The token’s price witnessed a rise of 11.08% over the last seven days, and the crypto volume ranking was #51.

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The token’s circulating supply was 333.138M WLD, which was 33% of the total supply. This was followed by the maximum crypto supply at 10.0B WLD.

Also, the token’s total supply was similar to its maximum supply, resulting in a fully diluted market cap of $17.763B.

The token volatility was also high, 17.26%, followed by an extremely high supply inflation. The token’s sentiment was bearish, and the fear and greed index was at 40, indicating fear.

Worldcoin Token Derivatives Analysis

The recorded long liquidation for the token was worth $339.66K, while the short liquidation was slightly lower, which resulted in $256.56K. This further results in a long/short ratio of 0.9822.

The trading volume of the token’s derivatives had decreased by 40.1% in the last 24 hours. This resulted in a traded value of $365.75M. The open interest in crypto further witnessed a slight increase of 2.01%.

WLD Token Technical Analysis

The WLD token price was seen following a strong downtrend on the daily chart as the token’s price has consistently declined.

The token price started to decline from the swing high of $11.96 formed on 10th March 2024. It witnessed strong profit booking. This led to a decline of 85% in the token’s traded price.

A falling wedge pattern was also formed on the WLD token’s daily chart. At the time of writing, the price traded was the same. If the token price breaks further above the falling wedge pattern and sustains above the same, we might see a price uptrend.

Worldcoin Token Technical Indicators Overview

The EMAs on the WLD token’s daily chart traded in a death cross. Following this, the token’s price also sustained below the 50-day and the 200-day EMAs for a long time.

WLD/USD Chart by AMANDA_TMP TradingView.com

The MACD and the signal line traded in a death cross and sustained in the negative trajectory. This exhibited weakness in the token’s price trend.

The RSI further followed a bearish cross and also overlapped the 14-day SMA. This supported the other technical indicators signal and showed higher chances of further decline in token price.

The Worldcoin token price might take support at the level of $0.9701 and $1.340, followed by the resistance levels of $5.0 and $7.50.

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.

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