Cryptocurrency
Worldcoin Token Value Surge Faces Potential Decline
Tuesday. July 23 at 3:00 AM
1 min. readThe value of WLD, the token powering Worldcoin, a crypto project co-founded by OpenAI CEO Sam Altman, has risen by nearly 30% in the last week. Despite the price surge, technical indicators show a bearish divergence in its Chaikin Money Flow (CMF), indicating a possible future decline. When an asset's price rises while its CMF is below zero, it suggests a net outflow of money, signaling weak buying pressure. This divergence between price and CMF is a bearish signal, hinting at a potential reversal or correction. Additionally, WLD's declining Relative Strength Index (RSI) at 48.10 confirms a decrease in bullish bias. Traders have opened short positions, evident from the negative funding rate of -0.022%, indicating anticipation of a price decline. If the trend continues, WLD's price could drop to $1.80, but a continued uptrend may lead to liquidations of short positions as the price approaches $4.20.