Worldcoin price continues to struggle and has oscillated within a parallel channel for months. Open Interest is at multi-week lows.
The decline in daily active addresses and Open Interest showed a lack of market interest.posted an 11% drop in price to trade at $1.50 at the time of writing.
One of the factors that have been weighing on WLD is selling pressure from Alameda Research. Data fromshows that Alameda has been depositing WLD consistently to exchanges since the 9th of August. Recently, Worldcoin attempted to break out of this channel, but the upper resistance line held firm. The failure to break out suggests that the price might continue to fluctuate within the channel.Source: TradingView
The Moving Average Convergence Divergence histogram bars also flashed green when WLD attempted to break out of the parallel channel.
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