The last 90 days have been tough for Worldcoin (WLD), the token that goes with the digital identity app. The most recent report shows that WLD is worth $2.52. This is a significant decline of 64.90% in the last three months and the lowest value it has seen since November 2023.
Worldcoin’s value has gone down because of a number of things, such as problems with regulations and buyers taking profits.WLD’s price hit an all-time high of $11.82 in March, but it has been hard for the cryptocurrency to keep going up since then.
Worldcoin RSI Shows Recovery
The Relative Strength Index (RSI) showed that Worldcoin was oversold during this time. The RSI shows how fast a coin is moving. Readings above 70 mean the price has been bought too much, and readings below 30 mean the price has been sold too much.
Santiment said that on July 1, Worldcoin’s 4-hour chart had an RSI of 21.04, which showed that it was oversold. At the time of the report, however, the RSI had gone up, which showed that sellers were done and buyers were taking advantage of the lower price.
Within 24 hours of this change, the price of WLD went up by 6.13 percent, which points to a possible bullish trend that could bring the price closer to $3 in the short run.Even though the view is positive, traders should still be careful. If the RSI goes up to 70 or higher before WLD hits $3, the token may be overbought, which could cause the price to go back down.
Still, the Bulls and Bears Indicator sends a positive message. This indicator tracks the actions of big buyers (bulls) and sales (bears). Right now, the data shows that there are more bulls than bears. Based on this imbalance, the price of Worldcoin might keep going up if the positive trend continues.
The way people feel about Worldcoin has also changed for the better. Before, the Weighted Sentiment was negative, which meant that most people were pessimistic about the project.
However, this measure has now gone up to 0.932, which shows a better opinion. If people feel good about things for a long time, they might want to buy more WLD, which would keep the price from dropping below $2 as long as present holders don’t sell.
