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The 2.3% rise in Worldcoin (WLD) prices reflects a signal of technical accumulation and reduced selling pressure after absorbing the release of new tokens, although market conditions remain varied overall.
1. Accumulation signals in the price range of $1.00-$1.20 as a support level
2. Absorption of token release amounting to $34.4 million on July 1
Token release absorption: On July 1, WLD released 37.23 million tokens worth $34.4 million (Tokenomist). Despite an increase in supply, the price remained above $0.88, indicating strong demand capable of absorbing the supply increase.
2. Technical Conditions
Main support maintained: The 20-week moving average at $1.13 and the 78.6% Fibonacci level at $0.87 were successfully maintained when recently tested.
Neutral RSI: The daily relative strength index (RSI) stands at 42.2, indicating that the price is neither overbought nor oversold.
MACD convergence: The MACD histogram indicates a bullish signal on July 5.
Based on the WCT/USDT (Perpetual) chart from Binance in the 4-hour (4H) time frame, here is the technical analysis:
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📉 Current Trend: Bearish / Down
Last price: 0.4152 USDT
Significant decline from the peak around 1.39 USDT.
Current price is moving below all EMAs (12, 26, 50, 200), indicating a strong downtrend.
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🔍 EMA (Exponential Moving Average) Indicators:
EMA(12): 0.4298
EMA(26): 0.4528
EMA(50): 0.5118
EMA(200): 0.5649
➡️ Current price (0.4152) < all EMAs → Bearish ➡️ No signs of a cross upwards → No reversal signal yet
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📊 MACD (Moving Average Convergence Divergence):
MACD Line: 0.0049, still slightly positive
DIF: -0.0231, DEA: -0.0279
➡️ Histogram is starting to shrink (heading towards 0), possibly the beginning of consolidation, but no strong bullish signal yet.
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📉 Volume:
Volume has drastically decreased after a major spike
Selling activity dominates, no significant accumulation
💡 Conclusion & Recommendation:
❌ If You Already Have a Position:
Cut loss if not done, especially if entered at high prices
Price is sideways in the support area around 0.40 → the possibility of a breakdown remains
✅ If You Want to Enter New:
No reversal confirmation yet → avoid entry at this time
Wait for a breakout above EMA(12) (~0.43) + large volume
Wait for MACD positive cross as an early buy signal
#wct Analysis WCT price corrected from the local peak of $1.39 to $0.41. No reversal signal yet as the price is still below all EMAs. MACD is starting to show consolidation, but volume is weak. Beware of the possibility of further breakdown. Don't FOMO, wait for confirmation! 📉 Bearish EMA | 🔍 MACD consolidation | ⏳ Patience waiting for signals.