The crypto market experienced significant volatility this week, with MYX Finance, Pump.fun, and Worldcoin leading gains, while Four, Cronos, and World Liberty Financial declined. Major cryptocurrencies like Bitcoin and Ethereum remained stable, and altcoins showed strong performances, but caution is advised as some tokens face resistance and potential pullbacks. Overall, the market is in a dynamic state with opportunities and risks for traders.
Worldcoin's token price has doubled in six days following a $250 million treasury strategy announcement and strategic investments, but it remains far from its all-time high of $11.74. The recent rally indicates bullish market sentiment, with technical indicators showing strong demand, yet the token still has significant ground to cover to reach its previous peak.
Worldcoin (WLD) experienced a 15% price surge, reaching $3.35, but signs suggest a potential pullback as selling pressure rises. Despite increased long-term investor confidence, only 59% of WLD addresses are profitable. Analyst Ali Martinez noted a head and shoulders pattern, indicating a possible sell-off. Increased supply on exchanges and a declining Long/Short Ratio suggest bearish sentiment. If the sell-off continues, WLD might find support at $2.9, with potential further decline to $2.4. However, if bullish momentum persists, WLD could aim for a $4 resistance.
