WLD, the cryptocurrency linked to the OpenAi Sam Altman CEO, has increased by 110% during the past week. The rally follows its recent list of the Korean exchange UPBIT and the growing interest of a newly established digital assets, which has poured new capital into the Token.
However, this dramatic increase in demand has pushed the market to an overheated territory, increasing the risk of buyers exhaustion. He also suggests that WLD may be at risk of throwing some of your recent profits.
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WLD rises fast, but overcompra indicators could activate the backward
The relative force index of WLD (RSI), observed in a one -day graph, shows that the asset is overwhest, a precursor of short -term setbacks. At the time of publication, this impulse indicator is found in 81.77.
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The RSI indicator measures the marketing and overall market conditions of an asset. It varies between 0 and 100. The values greater than 70 suggest that the asset is overloaded and is due to a price decrease, while the values smaller than 30 indicate that the asset is oversized and can witness a rebound.
Therefore, the current relative force index of WLD (RSI) points out that the asset faces a possible phase of short -term recoil or consolidation, since the first investors can obtain profits and the new buyers doubt at high prices.
In addition, Token’s climbing futures join this caution. According to Caramela, this is found in a historical maximum of $ 852 million, with a shooting 18% only in the last 24 hours. This indicates that speculative activity intensifies, and the market could be vulnerable to acute correction.
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The open interest of an asset measures the total number of contracts of futures pending that have not yet been resolved, evaluating the market share and the commitment of the operators. When shooting like this, merchants are taking evergated positions in the market.
While this can feed the short -term manifestations, it also increases the risk of greater volatility. If the feeling of merchants changes, resulting liquidations could make the market vulnerable to acute correction.
WLD goes up fast, but Bears could drag the price at $ 1.34
Any setback in the WLD rally could lead to a decrease to the support floor to $ 1.59. If this level is not maintained, WLD could extend its fall and fall even more to $ 1.34.
On the other hand, if the demand is deepened and buyers gain more strength, they could generate the price of WLD above $ 1.95 and around $ 2.38.
