Current Analysis of $WLD

Worldcoin (WLD) is experiencing a notable upward trend, driven by increased investor interest and recent strategic developments.

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๐Ÿ“ˆ Market Overview

Current Price: Approximately $1.56 USD, reflecting a 34.5% increase over the previous close.

24-Hour Trading Volume: Around $900 million, indicating heightened market activity.

Market Capitalization: Approximately $2.33 billion, positioning WLD at rank #63 on CoinGecko.

Circulating Supply: About 1.5 billion WLD tokens, representing 15% of the total supply.

All-Time High: $11.80 on March 10, 2024; current price is about 87% below this peak.

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๐Ÿ” Technical Analysis

Trend Indicators: The Awesome Oscillator (AO) has moved into positive territory, and the Bull Bear Power (BBP) indicator suggests bullish momentum.

Support and Resistance: The Supertrend indicator shows strong support below the current price, with potential resistance around the $2.00 mark.

Moving Averages: The 50-day moving average remains above the 200-day moving average, indicating a bullish trend.

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๐Ÿ’ก Recent Developments

Worldcoin's recent price surge is attributed to a $135 million direct token purchase by early backers a16z and Bain Capital Crypto. This influx of capital has increased the circulating supply and bolstered investor confidence.

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โš ๏ธ Considerations

While the short-term outlook appears positive, it's important to note that WLD is still trading significantly below its all-time high. Additionally, regulatory scrutiny in various countries may impact the project's operations and token performance.