Altcoins News
By MikeT
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Worldcoin (WLD) is showing signs of potential upward movement as it approaches critical resistance levels. Currently trading at $1.26, WLD has seen a 3.
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The price of Worldcoin has been trading within a descending channel over the past few weeks, with significant levels forming both at the top and bottom of the range.
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Rising Active Addresses Indicate Growing Interest
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One of the key factors supporting the breakout potential of Worldcoin is the significant increase in network activity.
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The surge in retail activity is further highlighted by transaction statistics. Smaller transactions, particularly in the $0.00–$1.
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On the other hand, larger transactions in the $10 million–$100 million range have decreased by 64.58%, signaling a slowdown in institutional activity.
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Short Squeeze Potential Could Accelerate Momentum
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Another interesting development is the possibility of a short squeeze. Worldcoin’s Liquidation Heatmap shows a high concentration of short positions around the $1.26–$1.
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The price action around the $1.25–$1.30 support zone is critical for the near-term outlook of WLD. If the asset holds above this level, the probability of a breakout increases.
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In conclusion, Worldcoin is at a pivotal point in its price action. With rising active addresses and an increase in retail investor participation, the asset shows signs of…
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