Warning of a Major Decline for Worldcoin and Analysis of Other Altcoins - COINTURK NEWS
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Warning of a Major Decline for Worldcoin and Analysis of Other Altcoins

9:35 am (52 days ago)
August 9, 2023

Altcoin Sherpa, a prominent figure followed by cryptocurrency investors, stated that Worldcoin (WLD), a cryptocurrency project co-founded by Sam Altman, the creator of the viral artificial intelligence chatbot ChatGPT, is expected to experience a significant decline. The analyst also evaluated the current outlook for Solana (SOL), Maker (MKR), and Rollbit Coin (RLB).

Warning of a Major Decline for Worldcoin

Anonymous cryptocurrency analyst Altcoin Sherpa warned investors that Worldcoin, a cryptocurrency project based on artificial intelligence using iris scanning technology, is in a long-term downward trend. According to the analyst, after losing the 0.618 Fibonacci level, WLD could face a decline of around 40% from current prices.

Altcoin Sherpa commented on the expected decline for WLD, stating, “Do not buy WLD before it drops to $1. Even in such a decline, only make a purchase to take advantage of future rebounds. WLD is definitely not a long-term investment.”

Other Altcoins on the Analyst’s Watchlist

After discussing Worldcoin separately, Altcoin Sherpa shifted attention to other altcoins on their watchlist, starting with Solana. The analyst highlighted that SOL, the native asset of the network, is currently near the 200-day exponential moving average (EMA), making it an interesting area. The analyst stated, “It is difficult to determine which levels are important in SOL, so the 200-day EMA level can be used for identification. It is likely to be an area of interest at the moment, and I think Solana will perform well in a bull market. Buying and accumulating some is not a bad idea.”

Next on the analyst’s watchlist is Maker, which is supported by Dai, one of the leading stablecoins. Altcoin Sherpa stated that they expect the price of MKR to reach just above the 0.50 Fibonacci retracement level before making a purchase. The analyst said, “Technically, my favorite buying zone for MKR is the 0.50 Fibonacci retracement level. So, I am expecting it to reach around $1,000. If there is such a retracement, I will wait a bit to decide if the decline has ended, but I think this will present a good buying opportunity.”

The last altcoin on the analyst’s watchlist is Rollbit Coin, the native asset of Rollbit. Altcoin Sherpa emphasized that RLB seems ready to rise up to the $0.126 resistance, stating, “Although I have reduced my position by 50% here, despite all the FUD (fear, uncertainty, and doubt), I still believe that this is a money printer.”

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