WLD has become one of the market’s top performers today after posting notable gains over the past 24 hours. This, after the token’s prices jumped 12% to $0.54.
The move came because buyers have become increasingly aggressive, helping the altcoin capitalize on its recent momentum on the charts.
Trading volume has also increased sharply during the recovery, suggesting the move could attract broader market attention rather than being driven by a handful of deals. The network’s trading volume saw an increase of 13%, to $1.83 billion.
Buyers take back control
During much of the recent market weakness, sellers had no difficulty pushing prices down. This dynamic could, however, change.
Recent order flow data has revealed that buyers are taking up a larger share of market activity. This could explain why Worldcoin (WLD) was able to maintain its gains throughout the session. In fact, long positions represented 62% of total market exposure at press time.
The increase in volume also seems to support this view. More traders participated in this move, giving the bulls a firmer footing than in previous recovery attempts.
Is institutional demand also increasing?
At the time of writing, institutional dynamics appeared to support positive buyer sentiments. This, after a period of aversion to the current market volatility.
The network’s Total Open Interest, for example, saw a daily increase of $70 million to reach a value of $286 million.
Can WLD continue to push higher?
The latest rally does not automatically confirm a trend reversal, but it does show a clear change in sentiment. At press time, the token was trading above a key EMA support, with the demand zone between $0.58 and $0.65 the only key hurdle ahead.
Buyers were vibrant, volume was increasing, and market participation seemed to be improving as well. If these conditions remain in place, WLD could continue to build on its recent gains in the coming sessions.
Overall, WLD buyers showed up, volume followed, and WLD responded. This is why the token is one of the best performing on the market today.
