Worldcoin (WLD) made headlines last week after a 50% price surge that drew significant investor interest. However, after hitting a crucial resistance level that has blocked gains for three months, the rally has lost steam. Over the last 24 hours, WLD’s price has dropped by 11%, signaling a potential market top for the popular altcoin.
Profit-Taking Signals Price Pullback
With 97% of Worldcoin’s total supply in profitable territory, analysts say it’s at a key tipping point. Historically, when more than 95% of a crypto’s supply becomes profitable, selling pressure increases, and price reversals often follow. For WLD, this high profitability suggests a likely pullback as investors take profits, mirroring patterns seen in past altcoin cycles.
This high level of profitability among holders has triggered profit-taking activity, which could intensify in the short term. Additionally, data shows that over 25% of active addresses holding WLD are profitable, a threshold that frequently signals sell-offs and downward pressure.
Price Outlook: Support Levels and Possible Bounce
Worldcoin is trading at $2.21 after failing to break through the $2.48 resistance for a third time in as many months. If the current decline continues, WLD may find its next support at $2.11, which could stabilize the price. A further dip might push WLD toward lower support levels at $2.00 and $1.74, marking a deeper correction.
On the upside, a bounce from the $2.11 support could negate the bearish trend, setting up another attempt to break the $2.48 barrier. Clearing this level would be a bullish signal, potentially reviving Worldcoin’s recent upward momentum.
