news 
Worldcoin (WLD) Struggles Below $1 Despite Binance.US Listing as China Raises Data Concerns
The WLD price has taken a significant hit, plummeting 7.89% to $0.99 in the past 24 hours, amidst ongoing regulatory concerns emanating from China. This unexpected downturn casts a shadow over the recent listing on Binance.US, which, in theory, should have boosted trading volume and subsequently fueled the asset’s value.
The recent WLD price action highlights the stark contrast between the exchange expansion news and the looming biometric data collection warnings issued by Chinese authorities. The latter has undoubtedly gained more traction among traders, leading to this current predicament.
Despite the uncertainty surrounding Worldcoin’s short-term trajectory, our technical analysis suggests a bearish trend is unfolding. The RSI (45.38) is currently positioned in neutral territory but trending towards oversold conditions, indicative of selling pressure building without reaching extreme levels yet.
Furthermore, the MACD configuration indicates bearish momentum acceleration, typically preceding further price declines. This setup presents an opportunity for day traders to explore potential bounce plays near the $0.91 immediate support level, provided they strictly adhere to stop-losses set below $0.88 to mitigate losses in case of a continued downturn.
Long-term investors face a more intricate decision-making process. While Worldcoin’s fundamentals do include the significant listing on Binance.US, amplifying market accessibility, regulatory challenges from major markets like China pose ongoing risks to the project’s global adoption trajectory. Consequently, risk management will remain crucial regardless of strategy.
The current 24-hour trading range of $1.08 to $0.97 reflects the highly volatile environment and underscores the necessity for position sizing reflecting this uncertainty.
Source: Blockchain.News
