Worldcoin (WLD) Impresses markets With 60% Rally, Delivering Big Gains to Investors. However, here’s why the rally has stalled. Holders have reacted to the rally’s gains in different ways, with some looking to lock in gains and others trying to resist the bearish aggression that has resulted from the sell-off.
Worldcoin whales hinder the ongoing surge
The price of Worldcoin has increased by 60% in just three days from $1.7 to $2.8. However, the token has still recovered only less than half of the losses incurred in June.
To avoid losing their gains again, WLD holders have begun selling the asset. This is evident in the sharp increase in active deposits, an on-chain metric that measures the flow of coins from investors’ wallets to exchanges. Meanwhile, It has reached a four-month high, demonstrating investors’ efforts to lock in profits.
However, it was mostly retail investors who did this. Whales, on the other hand, appear to be replenishing their holdings rather than selling them off. Addresses holding between 1 and 10 million WLD have amassed around 13 million WLD in three days, worth more than $36 million.
In the past, whale accumulation has caused price recovery. Such cases were observed in February and May. However, this time, this is not expected as bearish activity and profit taking are counteracting bullish signals.
WLD Forecast: Challenging Times Ahead
The price failed to break the resistance at $3.0, which has been holding WLD back for a month now. The likely outcome is a pullback to $2.5, which will act as support. This could lead to consolidation of the coin in the range until bearish or bullish signals reverse the situation.
If the WLD rate is influenced by bears, a correction will occur after consolidation. This will reduce the coin’s value to $2.0, canceling its recent gains and refuting the bullish-neutral scenario.
