Worldcoin’s price may not be seeing extensive gains, but WLD holders could. According to the Global In/Out of the Money (GIOM) indicator, about 27.11 million WLD is on the verge of becoming profitable.

The supply worth over $130 million was bought between $4.38 and $4.95, and given that WLD is at $4.91 at the moment, profits are not far away. Interestingly, despite the profits, the altcoin is looking at consolidation; however, this is not due to selling at the hands of investors.

Worldcoin GIOM. Source: Into TheBlock

This possibility is eliminated in the investors’ behavior. Upon distributing active addresses by profitability, less than 3% of the participating investors are in profit.

Generally, the price tends to dip when these WLD holders dominate the addresses conducting transactions on the network. This is because investors in profit are active as they are looking for profits.

Worldcoin Active Addresses by Profitability. Source: IntoTheBlock

However, since this is not the case with WLD, the altcoin could observe a recovery in price.

WLD Price Prediction: Strong Resistance Despite Bullishness

Worldcoin’s price is presently at $4.91 after charting a 5% growth in the last 24 hours. The altcoin witnessed a failed double-bottom bullish pattern in April and has been consolidated since mid-May.

The limits of this consolidation are $5.64 and $4.38, with WLD not even inching close to breaching the former. The latter has been tested a few times but is holding strong. Thus, the likely outcome for the altcoin is a sideways movement.

Worldcoin Price Analysis. Source: TradingView

However, if Worldcoin’s price breaks down below the support of $4.38, this bullish-neutral thesis would be invalidated. Consequently, WLD could fall to test $4.00 as its next crucial support.

The post Worldcoin (WLD) Consolidation to Yield $130 Million Profit for Holders appeared first on BeInCrypto.

Feed: BeInCrypto

View: Original article

Tags: money

Revenue Strategies