Worldcoin (WLD) Price Faces Bearish Pressure

Over the last several weeks, the Worldcoin (WLD) price has only registered a downtrend, greatly influencing investors’ moods.

Worldcoin (WLD) price displayed a bearish outlook on the daily chart, encountering difficulties in breaking above the key moving averages.

The token faced strong resistance at the $3 level, preventing any further upside attempts.

As a result, WLD price remained under pressure and was at risk of extending the downtrend.

Worldcoin (WLD) price encountered strong resistance at the $3 level, which was evident from the token’s inability to cross this mark despite several attempts.

This indicated that bears were firmly in control at this price point.

Moreover, the token price faced difficulties in breaking above the 20-day EMA (Exponential Moving Average), which further highlighted the bearish pressure.

On the other hand, Alameda Research, a quantitative cryptocurrency trading firm, recently transferred 205,387 WLD tokens, valued at $352,000, from its known FTX wallet.

However, it's worth noting that Alameda still held a substantial amount of WLD tokens, exceeding 24 Million, according to the latest data from Footprint Analytics.

If the token price manages to cross the $3 mark, it could shift the gains toward the upside of $2.

This would be followed by the $2.30 mark in the short term.

Conversely, if the token faces rejection near $1.90, it may slip toward the $1.50 mark and then to the $1.00 mark.

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