Bulls are digging in their heels at $0.87, a critical battleground where buyers are fiercely defending their turf. As the derivatives market churns and the broader market finds its footing, subtle signs of accumulation are surfacing on both short-term and daily charts. Is this the quiet before the storm, the calm before the next explosive surge? Keep a close watch.
Open Interest Declines as Price Retraces From $0.985
Worldcoin’s price action has been a rollercoaster, and the 1-hour Open Interest chart is screaming short-term volatility. For days, WLD lazily hugged $0.86, then suddenly exploded to $0.985 on July 3rd. But hold on – that breakout was a mirage. The price slammed back down to $0.929 faster than you can say “crypto correction.” The culprit? A brick wall of resistance near the psychological barrier of $1. Sellers are back in the driver’s seat, at least for now.
Source: Open Interest
The price surged, and open interest swelled in unison, a clear signal: bulls were stampeding, betting on a breakout. Then, the rally sputtered, the ascent faltered, and the tide turned. Open interest, once a roaring flood, ebbed to a mere 3.449 million, a stark testament to dashed hopes.
The air hisses out of the trade. Open Interest, once a swelling tide, now ebbs fast as price falters. Speculative fervor? Gone. Think a mass exodus: traders sprinting for the exits, conviction crumbling like stale bread. This isn’t a dip; it’s a controlled demolition. Price and OI are both bleeding out, painting a stark picture: risk-off, not rally-on. Bull run? Postponed.
Chart Shows Broad Participation in Uptrend
Worldcoin quietly defied gravity between July 2nd and 3rd. Forget rollercoaster volatility; this was a slow burn. Starting at $0.91, it crept upwards, reaching $0.981 by close – an 11.39% victory. What’s truly intriguing? This wasn’t a pump-and-dump fueled by fleeting hype. A robust $254.58 million trading volume confirms it: steady, consistent buying pressure gently nudged Worldcoin higher. Think of it as a rising tide, not a splashy wave.
Source: Brave New Coin
The rally wasn’t a fleeting pump; it was a sustained surge, fueled by widespread interest. Volume held steady, a stark contrast to the volatile spikes of short squeezes. This wasn’t a game of quick profits; it was a slow burn, hinting at genuine accumulation. Worldcoin’s market cap responded in kind, cresting $1.66 billion and solidifying its place as a crypto heavyweight.
Worldcoin (WLD) currently holds the 68th spot in the crypto hierarchy, fueled by a circulating supply of 1.692 billion tokens. While the price inches upward, buoyed by consistent volume and market cap, a crucial hurdle remains: the $1 resistance. Buyer interest is palpable, but will it be enough to shatter that ceiling?
Worldcoin’s fate hangs in the balance. Stuck between $0.95 and $0.98, a surge past $1 could unleash the bulls. But if it fails to break free? Brace for impact. Renewed selling pressure looms, especially if the market’s mood sours.
TradingView Daily Chart Signals Consolidation Range
TradingView’s WLD/USDT daily chart tells a captivating tale of boom and bust. Remember April? Worldcoin ignited, blasting from a humble $0.60 to over $1.60 in a breathtaking surge. But like a shooting star, the brilliance was fleeting. May brought a swift reality check. The chart screams “profit-taking!” A wick like a rejected promise marks the peak, followed by a relentless descent. Lower highs, lower lows – a stark, undeniable pattern of decline etched across the daily timeframe.
Source: TradingView
Worldcoin’s price is stuck in neutral, bouncing between $0.85 and $0.95. As of July 3rd, it sits at $0.930 – a slight 1.48% dip, but still trapped in its sideways slumber. The recent candlestick dance is a stalemate; a tug-of-war where neither bullish nor bearish forces can gain the upper hand. Will it break free, or remain in this crypto purgatory?
WLD teeters on a knife’s edge. Forget the lagging indicators for now; the chart screams a showdown at $0.98 (resistance) and $0.87 (support). Conquer $0.98, and $1.20 is the promised land. But slip below $0.87, and brace for a potential freefall. This battle is for keeps.
Thanks for reading Worldcoin Price Prediction: Bulls Defend $087 After Sharp Rejection
