Worldcoin (WLD) has shown relative strength since successfully testing $0.22 a week ago. With the crypto market rebounding, Worldcoin’s bullish momentum has strengthened significantly. Notably, WLD rebounded from a low of $0.26 and reached a monthly high of $0.31.
At press time, Worldcoin was trading at $0.30, up 14% on the daily chart. During the same period, its market capitalization regained the billion-dollar mark, signaling renewed capital inflows.
Worldcoin rebounds as demand for whales recovers
Despite increased market instability, WLD whales have reported a comeback in the market. Average order size data from CryptoQuant showed large whale orders over the past week, with these orders intensifying around $0.26.Price levels of $0.29.
This period of increased whale participation coincided with relative market stability, suggesting that these whales were active on the buying side.
In fact, CVD Spot Taker has remained green over the past week, hitting a monthly high. When this metric is red, it suggests that longs are dominating the spot market.
Therefore, these whales actively accumulated, establishing a strong demand zone between $0.26 and $0.29. Usually, when whales accumulate, they reduce supply, thereby increasing scarcity and thereby strengthening bullish momentum.
Furthermore, thForeign exchange activity has reinforced the accumulation trend. Over the past week, $122 million worth of WLD left exchanges, compared to $117 million inflows. This trend persisted at press time, with $29.57 million paid out.
Historically, when spot demand remains stable, it reinforces bullish momentum, leading to more gains.
Is the upward momentum of the WLD sustainable?
Worldcoin has extended the market rally, not only driven by a broader market shift but also growing demand from whales.
As a result, WLD’s positive index (+DI) climbed to 26, while ADX rose to 20. With +DI positioned above ADX, the signal indicates strong bullish momentum. Market conditions remain governed by bullish pressure and, with a negative index (‑DI) at just 10, the bears appear fragile.
After a prolonged period of weakness, sellers are largely exhausted.
Likewise, the Stochastic RSI also rose to the overbought level at 95, once again confirming the strong buying pressure. Taken together, these two momentum indicators signal the likelihood of a continuation of the uptrend.
Therefore, if whales continue to accumulate WLD, we could see the market gain further, reaching $0.32 and targeting $0.36. However, the altcoin must close above $0.3 to validate this bearish outlook; otherwise, WLD will fall to $0.23.
Final Summary
- WorldC\coin rose by 14%, managed to reverse $0.3 and hit a monthly high of $0.31.
- The WLD’s upward movement has strengthened, largely due to increased whale accumulation.
