Will Worldcoin plummet to new all-time lows?

• WLD indicated bullish momentum after retesting key trendline support.
• Whale transactions and development activities signaled a potential reversal.

Worldcoin [WLD] has witnessed a dramatic decline that has got investors concerned.  As it approaches an all-time low, the question arises — is this is the bottom, or is its long-awaited reversal coming?

Let’s find out –

WLD has been ranging between $6.5 and $4.2 levels for the last two months before breakdown from the $4.2 support level. The price has plummeted by around 21% since its breakdown on the 8th of June. 

WLD has retested the trendline support-that has been retested several times-and it is steadily building bullish momentum.

As of writing, CoinMarketCap priced WLD at $3.46, a 6.29% drop in the last 24 hours and a 20.83% drop in the past seven days. Its market capitalization was $834 million. 

WLD’s volume surged by 16.03% to $174 million in the last 24 hours.

The stochastic RSI (2.70) indicated an oversold zone that could trigger a price reversal if the bullish momentum tightens it muscles.

Is there a glimmer of hope for Worldcoin?

AMBCrypto analyzed Santiment’s whale and development activity data to find out if they backed a reversal or a further dip.

Development activity has been rising steadily, indicating investors confidence in long-term WLD viability. 

Whale transactions had several spikes as well, suggesting that large holders might be accumulating as they found a key area to enter the market. This could trigger the price up for a potential reversal.

What does liquidation heatmap have to add?

The liquidation heatmap reveals zones of high liquidation level are concentrated at around $4.0, which could act as price magnets and push the prices up.

This suggested that the market had a bullish bias at press time, and that WLD was likely to surge to fill the gaps.

Should you brace yourself?

Despite the overall WLD market bias being bearish, several indicators suggested that we may be nearing a critical reversal point. 

Is your portfolio green? Check out the WLD Profit Calculator

The convergence of rising whale activity, sustained development activities, and a retest of the trendline support a potential reversal.

However, if WLD breaks below the support level, the price may dip further.