Worldcoin (WLD) Price Prediction: Market Sentiment Improves as the Altcoin Has a Long Way to Go

Worldcoin's (WLD) price has recovered less than 10% following a recent 46% decline. While some might consider this a bearish sign, it might simply be a

Worldcoin (WLD) price has recovered less than 10 percent after the last 46 percent drop.

While some may consider this a sign of a bearish trend, this may simply be a delayed start as investor optimism increases.

Worldcoin Has a Long Road Ahead

Over the last two months, the Worldcoin price has had an incredibly unlucky period, negating even the altcoin's 66 percent rise since mid-July. Currently seeing the November 20233 lows, the altcoin has no option but to rise.

This sentiment is also partially exhibited by investors losing their optimism, which can be seen in the Mean Coin Age (MCA) indicator. MCA refers to the average time that funds are held in a wallet without being spent or transferred. It provides information on the length of coins in circulation and can indicate market sentiment and stability.

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

In general, an increase indicates continued HODLing, while a decrease indicates increased supply movement between addresses. After a few difficult days at the end of July, the indicator points to a renewed increase. This means that the confidence among WLD holders has increased as the price decline has stopped.

This may also lead some investors to take advantage of the lower prices and add WLD to their portfolios. The Market Value/Realized Value (MVRV) Ratio supports this possibility.

MVRV ratio evaluates the profit and loss of investors. Currently, Worldcoin's 30-day MVRV is -25 percent, indicating losses and potential buying pressure. Historically, when the WLD MVRV is between -10 and -21 percent, it generally indicates the beginning of recoveries and uptrends, and this is considered an accumulation opportunity zone.

So if investors maintain their optimism and focus on saving, the Worldcoin price can recover much faster.

WLD Price Prediction: Breaking the Barriers

After recording a 63 percent decline throughout June and half of July, the Worldcoin price tried to recoup these losses. While WLD rose 66 percent, the market began a downward trend and within three weeks the altcoin fell another 46 percent.

This decline brought the trading price to $1.70 at the time of writing, wiping out all profits WLD made from the 66 percent rise. However, WLD has one more chance to make a profit, and for that the altcoin needs to break the $3.00 support level. This requires breaking the $2.00 resistance level and turning it into a support base.

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

On the other hand, if the Worldcoin price cannot exceed $3.00, then it may consolidate. The same thing happened in July and as a result WLD may set its limits at $1.76 and $3.00. A prolonged consolidation could also invalidate the bullish thesis, eliminating investors' chances of making profits.

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