Worldcoin (WLD) Faces Market Downturn as Speculative Demand Wanes
Worldcoin (WLD) is facing a downturn in the stock market today, with a decrease in speculative demand and leveraged long positions. Despite a recent surge in open interest, no single entity dominates the trading scene. The token's market capitalization stands at $2.76 billion with a daily trading volume of $161.8 million.
The token is currently consolidating near the $1.30 level, with support near the $1.20-$1.25 zone attracting buyers. However, the price has entered a prolonged correction after spiking above $2.40. Weakening momentum and bearish technical signals suggest a continued downtrend. Capital outflows exceed inflows, as indicated by the negative Chaikin Money Flow reading. Traders are adopting a more defensive stance, deploying less leverage and waiting for stronger signals. The token is trading well below the Bollinger Band basis, reflecting persistent selling momentum. A breakdown below the critical support at $1.15 could push the coin toward the $1.00 psychological level.
Worldcoin's current stock market situation reflects a decrease in speculative demand and leveraged long positions. While there's support near the $1.20-$1.25 zone, the overall trend is bearish, with capital outflows exceeding inflows and persistent selling momentum. Traders are being cautious, waiting for stronger signals before committing to new positions.
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