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Worldcoin (WLD) Holds Above $1 as Mixed Signals Cloud Short-Term Outlook
The WLD price has managed to hold above the crucial psychological level of $1.00, but technical indicators are providing mixed signals, creating uncertainty for traders.
Despite the recent 25% weekly surge that propelled Worldcoin to a new all-time high at $1.24, the token’s price action has since retreated to its current levels around $1.08. This pullback from the July 28 high of $1.12 reflects typical market behavior where significant gains trigger selling pressure from traders looking to secure profits.
German regulatory scrutiny continues to cast a shadow over Worldcoin’s price trajectory, with uncertainty about the project’s biometric data collection methods contributing to recent price volatility. Notwithstanding these regulatory concerns, WLD has maintained support above $1.00, suggesting underlying demand remains intact.
A neutral RSI reading of 48.26 further underscores the mixed signals in the market, as neither overbought nor oversold conditions prevail. This ambiguity leaves room for movement in either direction based on external catalysts.
Source: Blockchain.News
