Over the past 24 hours, Bitcoin (BTC) has rebounded from a local low of $57,800 to $60,536. this 4.73% The rebound has begun to ease, and the leading cryptocurrencies are trading at… $60,048 At the time of writing.
Tuesday, June 30th close to $410 million The value of leveraged positions is liquidated throughout the market. This includes $8.3 million The value of Worldcoin (WLD) positions, with $8.06 million He deserves to be missed alone.
Worldcoin Traders were ready to buy but faced sustained losses over the past two weeks. The altcoin has fallen from $0.7229 to $0.3686A 49% Consumption within two weeks.
However, there is a reason why traders and investors are optimistic.
Worldcoin bulls have the potential to fight sellers
Assembly above $0.65 June brought about a break in WLD’s bullish swing structure. Since then, there has been a profound correction. The OBV index was at its lowest levels in June again, and RSI It was falling towards the oversold level at 30.
However, from a structural point of view, the trend has remained bullish for the altcoin. Moreover, it had fallen into the golden pocket between 61.8% and 78.6% Fibonacci retracement levels.
Moreover, despite the deep decline of the OBV index, the CMF index indicated stability in the short term. if CMF Fall below -0.05OBV loses the local bottom, and Worldcoin prices fall below it $0.333a downward shift will become more likely.
Traders call to action – cautious uptrend
the 4 hours The chart showed that the last driving move for this lower time frame is $0.723 originated from $0.416. This short-term support was given up without much of a fight. It seems likely that the $0.333 support level will be tested soon.
Technical indicators have been unanimously bearish on this time frame over the past two weeks of correction.
Clearing data revealed that many magnetic areas that had accumulated over the past month had been cleared and cleared, with $0.348 Being the next one to watch out for.
In light of the current situation, the trend towards the south, imposed by continuous waves of liquidation and forced sales, may end soon.
Worldcoin traders and investors have reasons to be cautiously optimistic, but a Bitcoin The sell-off may negatively impact WLD trends. Therefore, a return above $0.416 could be a safe catalyst for buyers.
Final summary
- The Worldcoin correction has reached just over 49% in the past two weeks, a significant number that has affected the sentiment of coin holders.
- Despite the significant pullback since the June high, buyers have another opportunity to keep the upward trend going for the higher time frame.
