Worldcoin (WLD) has been consolidating between $4.3 and $6.2 over the past two months. The $4.3 support level has been frequently tested, showing strong buying interest. The $6.2 resistance level has also been tested multiple times, indicating significant interest at this price. Currently, Worldcoin is trending upward towards the $6.2 resistance. A breakout above this level could signal a new upward trend for the altcoin.

However, if the $4.3 support level fails due to downward pressure, a head and shoulders pattern may develop, potentially leading to a price decline to retest the rising trend line support just below $4.3. As of now, Worldcoin is priced at $4.83, with a slight increase of 0.01% in the last 24 hours and a 1.28% decrease over the last week.

Trading Volume in WLD

Worldcoin's market cap stands at $1.1 billion, with a 50.52% increase in trading volume over the last 24 hours, reaching $507.61 million. According to IntoTheBlock's global in/out of money indicator, 2.98 million WLD are close to profitability, with $241.38 million worth purchased in the $4.87 to $4.88 range. Given the current price of $4.84, investors are nearing a profit moment.

Social volume has increased, indicating strong market interest, and the supply on exchanges has steadily decreased, suggesting a bullish sentiment as investors move WLD off exchanges. This trend supports the bullish outlook towards the $6.2 level. TradingView's dashboard shows WLD's current price between the lower and middle Bollinger Bands, suggesting low volatility and a recovery from oversold conditions. The Chaikin Money Flow (CMF) at -0.01 indicates investor indecision, as they wait to see the market's next move.