Worldcoin (WLD) is grappling with both technical and security-driven developments. While the Worldcoin Foundation prioritizes user privacy with a new biometric data security system, the cryptocurrency’s price continues to struggle to establish a clear uptrend.
Price Wobbles Despite Support:
Following a significant drop from its March 10th high of nearly $12, WLD attempted a recovery. However, recent price movements suggest a potential downward correction. After a brief climb to $6.50 on May 6th, WLD fell back to $4.60 and continues to face pressure. Analysts point to a “death cross” on the daily chart’s MACD indicator, signifying a potential bearish trend.
Lower Support Levels on the Horizon?
With the recent price drop, experts anticipate WLD could revisit the $3.50 zone. However, the established ascending support level near $3 might offer some temporary resistance.
Enhanced Security with SMPC Integration:
In a positive development, the Worldcoin Foundation, in collaboration with TACEO, has launched a new open-source secure multi-party computation (SMPC) system. This technology enhances user data privacy by facilitating the secure deletion of outdated iris codes. This move reinforces Worldcoin’s commitment to robust data protection standards.
Uncertain Future for WLD:
The interplay between these technical and security-focused developments paints an uncertain picture for WLD’s immediate future. While the SMPC system represents a significant step forward in data security, the price action suggests potential downside pressure. Investors and traders should closely monitor WLD’s price movements and key technical indicators to navigate the current market sentiment.
WorldCoin (WLD) Market Outlook
Worldcoin (WLD) is currently trading at $4.98, down 1.32% in the last 24 hours. This comes amidst a slight downturn in the overall cryptocurrency market, with the global market cap sitting at $1.07 trillion. WLD has a circulating supply of 214.42 million coins, out of a maximum supply of 10 billion. Ranked 86th by market cap, WLD’s price fluctuated between $4.67 and $5.05 today.
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