Crypto analyst and strategist Altcoin Sherpa, closely followed by cryptocurrency investors due to his accurate predictions, has warned that the controversial altcoin project Worldcoin (WLD) may be on the verge of collapse. The analyst also shared the best buying level for popular altcoin Solana (SOL).
Gloomy Outlook for WLD
Anonymous crypto analyst Altcoin Sherpa, on social media platform X, stated that Worldcoin’s (WLD) current value will decrease by at least 34%, saying, “We had opened a great long position for this, but it seems exhausted now. I closed my position, but if you still have a long position, you should consider closing it soon. I think it will fall below $1 in the long run. However, there may be a small bounce at $1.50.”
Looking at the graph shared by the analyst, it can be seen that the altcoin is in a downtrend after encountering significant resistance near the $1.90 level and is expected to retest the 200-day Simple Moving Average (SMA) which is around $1.50.
WLD had dropped to $0.978 in September and then surged to $1.88 with a surprise 92% increase on September 28. The controversial altcoin has since retraced and is currently trading near the level mentioned by the analyst, with a 7.46% decline in the last 24 hours.
Identifying the Best Buying Level for Solana: $26
Altcoin Sherpa also revealed that he is closely monitoring Solana, the rival of Ethereum (ETH). The analyst stated that he is waiting to see if the popular altcoin will break an important resistance level to confirm the price increase. He said:
This area that the price is approaching is a very important region. $26 is a key level for support/resistance (S/R). To be honest, I think this still offers a good buying opportunity. It is probably one of the best altcoins to invest in. If you ask when to buy, I would say it should break and exceed the $26 level.
