Worldcoin Price Analysis Reveals Path to $4.5 Despite FUD

WLD price hit a low of $1.72 on July 12 before it began recovering. The decline was part of the market-wide crash caused by the German Bitcoin sell-off.

Worldcoin (WLD) price tokens have seen a significant drop of 10% over the last 24 hours, despite recently enjoying a successful week of gains. The crypto asset rose by 49% following the announcement that token locks would be extended by 5 years. However, the price of WLD has now retracedの一部をめぐる議論が再燃している。

Worldcoin Price Analysis Reveals Path to $4.5 Despite FUD

The price of WLD hit a low of $1.72 on July 12 before it began recovering. The decline was part of the market-wide crash caused by the German Bitcoin sell-off. However, WLD price is still trending below the 50-day and 200-day simple moving averages (SMA), indicating the asset may still be bearish despite the recent surge.

WLD price retraced to $2.6, which coincides with the 50% Fibonacci retracement level and also a potential bounce-off point.

The moving average convergence/divergence (MACD) indicator is rising, although it is still under the zero line. This is similar to the Chaikin money flow (CMF), which shows that the asset is bullish but still has some selling pressure. The relative strength index is at 52.35 and heading down. This indicates the bullish momentum on the Wolrdcoin price is reducing and may soon turn bearish if the RSI crosses below the midpoint.

Overall, the technical indicators suggest that the initial buy momentum in the price of WLD is slowing down. If general market conditions remain the same, the asset may turn bearish.

Key levels to watch for include $3.65 and $4.6 on the upside and $2.4 and $1.9 on the lower side.

On-Chain Sleuth ZachXBT Calls Worldcoin the Biggest Scam Ever

On July 17, prominent blockchain detective ZachXBT called Worldcoin (WLD) “the biggest bull market scam token.”

Shame on all of the VCs and team members who are complicit in the biggest scam token of the bull run and did nothing to prevent it.

ZachXBT’s accusations are based on extensive research by DeFi^2, a self-proclaimed top trader on Bybit. He described how the Worldcoin team allegedly manipulated the token’s price while publicly denying any involvement in the manipulation.

DeFi2 reported on July 17 that Worldcoin plans to begin insider unlocking in seven days. Currently, 276 million WLD (2.7%) of coins are in circulation, while the total issuance is 10 billion. This is one of the lowest figures for a significant venture capital-backed cryptocurrency project.

The trader’s report highlights selected practices of the Worldcoin team, including>

According to DeFi^2, many WLD holders are retail Korean investors who may need help understanding the risks due to the language barrier.

In addition, his research revealed possible insider trading, with suspicious price movements occurring just before essential announcements. This pattern raises questions about the ethics of the Worldcoin team and associated venture capitalists.

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