- A newly created wallet withdrew 10.07M WLD from Binance, raising fears of a major off-exchange dump.
- Worldcoin broke down from an ascending wedge pattern, confirming a bearish shift with $0.580 and $0.347 as possible targets.
- RSI and MACD show no signs of reversal, while any bullish invalidation now depends on reclaiming $1.623.
Worldcoin (WLD) is back in the spotlight, but not for reasons its holders would like. The token recently dipped to $0.9492, slipping over 7% on the day, even as its trading volume spiked by 86.41%, CoinMarketCap data shows.
While large withdrawals are not always bearish, movements of this scale from new addresses often signal that a large holder is preparing for off-exchange moves, such as OTC sales, which can precede a price drop.
Whale Withdrawal Precedes Bearish Technical Breakdown
According to Onchain Lens, a newly created wallet withdrew 10.07 million WLD (worth approximately $9.51 million) from Binance.
While not inherently bearish, large-scale withdrawals, especially from newly formed addresses, often indicate preparations for off-exchange moves such as OTC sales or private custody, potentially signaling reduced market confidence or the intent to offload in less transparent ways.
These transfers frequently precede either market-making accumulation, or major dumps and are often under investors’ radar.
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WLD Price Prediction: A Look at the Downside Targets
WLD’s price recently broke down from an ascending broadening wedge, a notoriously volatile and unreliable bullish continuation pattern that often flips bearish when momentum weakens.
Analyst MyCryptoParadise stated that WLD printed a Change of Character (CHOCH) as it broke below the wedge’s lower boundary, confirming a structural shift from accumulation to distribution.
The breakdown was followed by a classic retest of the supply zone between $1.069 and $1.125, which WLD failed to reclaim, strengthening the bearish case.
Related: WLD Price Tests Resistance Following Worldcoin’s Major USDC Partnership with Circle
According to the analysis, key downside targets are:
- $0.847 — a near-term support where price might pause.
- $0.580 — a deeper breakdown level in line with broader bearish momentum.
- $0.347 — a macro support that could be revisited in a worst-case scenario.
On the flip side, any bullish invalidation of this bearish structure would require a breakout above $1.623, which currently seems highly unlikely without a major narrative shift.
Meanwhile, the Relative Strength Index (RSI) sits around 37.10, which signals weakening momentum but has yet to enter oversold territory. There’s still room for further downside before a potential bounce.
Also, the MACD histogram is flatlining in negative territory, with the MACD line and signal line both below zero, confirming a sustained bearish trend with no imminent reversal signals.
Fibonacci Levels: What the Bulls Are Watching
In case the buyers return and WLD turns bullish, deceiving investors, a bullish breakout to $1.32 (0.786 Fib) and then $1.52 (1.0 Fib) is likely. If momentum changes and WLD manages to break through $1.656, a rally toward $2.05 (1.618 Fib extension) could materialize as well.
As per the chart above, further targets lie at $2.68, $3.32, and $3.72, although these are out of reach without a macro shift or strong fundamental catalyst.
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