Worldcoin (WLD) Rate Drops 7% After a Whale Withdraws $9.5 Million in Tokens from Binance
Worldcoin (WLD) is back in the spotlight, however not for reasons its holders would like. The token just recently dipped to $0.9492, slipping over 7% on the day, even as its trading volume surged by 86.41%, CoinMarketCap information shows. While large withdrawals are not always bearish, movements of this scale from new addresses often signify that a large holder is preparing for off-exchange relocations, such as OTC sales, which can precede a rate drop.
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 recently formed addresses, often indicate preparations for off-exchange moves such as OTC sales or private custody, potentially signaling decreased market confidence or the intent to unload in less transparent ways.
These transfers often precede either market-making build-up, or significant dumps and are typically under investors’ radar.
WLD Cost Prediction: A Look at the Downside Targets
WLD’s price recently broke down from an ascending broadening wedge, a notoriously unpredictable and unreliable bullish extension pattern that typically turns bearish when momentum weakens. The breakdown was followed by a classic retest of the supply zone between $1.069 and $1.125, which WLD failed to reclaim, reinforcing the bearish case.
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 appears highly unlikely without a major narrative shift.
The Relative Strength Index (RSI) sits around 37.10, signifying weakening momentum but has yet to enter oversold territory. There’s still room for more downside before a potential bounce. Additionally, the MACD histogram is flatlining in negative territory, with the MACD line and signal line both below zero, confirming a sustained bearish trend without any 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 shifts and WLD manages to break through $1.656, a rally toward $2.05 (1.618 Fib extension) could materialize as well. Further targets lie at $2.68, $3.32, and $3.72, although these are out of reach without a macro shift or strong fundamental driver.
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