Worldcoin price pumped +10% overnight, bringing week-on-week gains to +30%, but a huge movement of Worldcoin crypto linked to Alameda Research wallets could be about to crash the party – here’s why.
In recent months, efforts have been made to reinvigorate Sam Altman’s Worldcoin project. In October, the network rebranded to World Map to boost the expansion of iris scanning operations globally.
This comes after a GDPR regulatory battle in the EU forced Altman to pivot away from the European region and reorient the focus to emerging economies and developing countries.
$WLD possible Play Out Chart . pic.twitter.com/hqsffwR7hO
— Crypto Tigers (@Crypto_Tigers1) December 6, 2024
Yet, the recent WLD price gains come as Worldcoin enters a major historic resistance zone, a level which makes many cautious – given its critical ability to make or break this WLD price rally.
WLD Price Analysis: Can Worldcoin Crypto Break Major Overhead Resistance Zone?
Ostensibly, Worldcoin crypto appears to be trading in strong bullish form, with WLD currently at a market price of $3.83 (representing a 24-hour change of +3.26%).
This comes amid a seismic +46% move after a golden cross pattern emerged between the 20DMA and 200DMA on November 30, ending months of long-standing suppression by a relatively static 20DMA.
WLD’s price is now flying high, with ascendant under footing from the rising 20DMA at $2.83 underpinning an incredibly bullish cup-handle pattern that has formed over the past week.
This suggests that the upside is likely to continue, with well-defended lower support levels at $3.75 and $3.15, as bulls continue to target resistance of significant historic resistance around $4.75.
(WLDUSDT)
Yet fundamental forces might have another plan, as sudden massive movements on-chain by Alameda Research wallets have spooked markets.
#PeckShieldAlert #Alameda labeled address transferred ~5M $WLD (worth ~$16M) to 0xd9C4…8f92 & 0xEF90…27f7, as well as 1M $POL (worth ~$623K) to #wintermute pic.twitter.com/u18VANXLK3
— PeckShieldAlert (@PeckShieldAlert) December 3, 2024
Worldcoin crypto valued at around $16M has been moved, seemingly poised to sell at this historic resistance level—and despite the impressive technical structure, this could trigger a lethal rejection.
This mirrors the fear displayed in an overheated RSI indicator, which suggests that the WLD price is severely overbought here, with a reading at 73.98. This suggests that retracement or consolidation is likely to dominate in the short time frame.
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