- WLD’s price climbed above $7 as Alameda Research continued to hold the token.
- LPT dropped below $19 after a whale cashed in on his six-month holdings.
- Increasing demand might push WLD to $8, while LPT’s price might nosedive to $12.69.
Worldcoin (WLD) , the project founded by Sam Altman, reached an all-time high (ATH) of $6.69 on February 19. According to Spot On Chain, the increase means that WLD’s price has increased by 163% in the last seven days.
However, that was not the only interesting information Spot On Chain posted. According to the on-chain analytic platform, Alameda Research owns 19% of the total WLD supply and has not sold any of the tokens. Moreover, Spot On Chain noted that Alameda received the tokens when WLD was less than $2.
Recently, Alameda, the sister firm to the collapsed FTX exchange, has been selling a lot of cryptocurrencies . If the firm decides to liquidate its WLD holdings after making so much profit, WLD’s price might fall. But if they don’t, the price of the token might tap new highs over the next few weeks.
Around the same period WLD climbed, a whale let go of Livepeer (LPT) holdings after making more than 249% profits holding the token for six months. Spot On Chain noted that the whale deposited 114,637 tokens to the crypto exchange Coinbase after the price hit $19.03.
Worldcoin (WLD) Is Overbought
The WLD/USD 4-hour pair showed that the cryptocurrency had continued to hit new highs. At press time, Worldcoin’s price was $7.25. However, the Relative Strength Index (RSI) indicated that the token was overbought.
With the RSI reading, little drops in profit-taking might pull back the price. Although the Bollinger Bands (BB) showed high volatility, it also reinforced that WLD was overbought. This was because the upper band of the BB touched WLD’s price above $6.66.
In a highly bearish scenario, WLD might nosedive to $5.20. But if demand continues to increase, then the price could inch toward $8.
Livepeer (LPT) Bulls Succumb to Bears
The whale sell-off seemed to have affected LPT’s price . Previously, its 24-hour increase was more than 37%. But at press time, the value had decreased to $17.95. But unlike WLD, the RSI reading dropped to 69.97 after hitting 96.95.
The decrease was a testament to the plunge in buying pressure. A look at the Fibonacci retracement indicator showed that LPT’s price might experience a further fall. At press time, the 0.618 Fib level was at $12.69, while the 0.786 Fib level was at $10.18.
If bears continue to outpace bulls, LPT might hit any of these prices over the next few days. However, a resurgence in buy orders could propel the price as high as $18.54.
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