Worldcoin’s (WLD) Price Fall Puts $960 Million Profits in Jeopardy

Worldcoin (WLD) is facing a potential price decline that could put $960 million in profits at risk. However, there is optimism for a recovery as investors continue to accumulate the altcoin. On-chain indicators suggest a bullish outcome if investors maintain their growth trajectory.

The recent drop in Worldcoin’s price has caused it to lose support at $2. According to the Global In/Out of the Money indicator, approximately 530 million WLD, valued at over $960 million, are at risk of becoming unprofitable. These coins were purchased at prices ranging from $1.71 to $1.93. With the current trading price of WLD at around $1.83 and testing the $1.76 support level, the altcoin may lose its profitability.

To facilitate a price rebound, investors must take action. Increased demand is needed, and there is potential for accumulation since the altcoin is currently undervalued. The Market Value to Realized Value ratio suggests opportunities for accumulation, as the 30-day MVRV stands at -37%, indicating profitability and potential buying pressure. Historically, MVRV ratios between -11% and -37% have signaled recoveries and rally opportunities, creating an accumulation zone that could drive the price upwards.

Worldcoin’s current price is below the critical level of $2.0, following a significant 63% decline in the past month. However, considering the factors mentioned earlier, a breach and successful flip of this level into support could lead to a price rise towards $3.0, bolstered by sustained bullish sentiment from investors. On the other hand, if the breach fails, the altcoin may lose support at $1.76 and potentially drop to lows of $1.50, invalidating the bullish outlook.