- Worldcoin neared its critical $1.54 support as large transactions sparked renewed market interest.
- Bearish indicators dominated for Worldcoin, with the RSI at 38 and ADX showing mild trend strength.
Worldcoin [WLD] traded at $1.85 at press time, experiencing a -10.96% decline in the past 24 hours, per Coingecko. Its 24-hour trading volume was $434,172,556, reflecting active participation despite the ongoing downward trend.
The price remained in a clear downtrend, forming lower highs and lower lows while staying below a descending trendline.
The next key support level lay near $1.54, where sell-side liquidity was concentrated, making it a critical level to monitor.
Key levels to watch in Worldcoin’s downtrend
Technical indicators highlighted key resistance levels for potential price recovery.
The Fibonacci retracement levels included $2.02 (0.236), $2.58 (0.382), and $2.88 (0.5), which could act as obstacles during any price rebounds.
The Fair Value Gap (FVG) between $3.00 and $3.50 is seen as a distant target in the current bearish environment.
The Bollinger Bands (20) showed contracting volatility, with the price nearing the lower band at $1.8074, suggesting potential oversold conditions.
The middle band at $2.1860 served as a significant resistance point should the price attempt a recovery.
Market sentiment and indicators
The Directional Movement Index (DMI) showed weakening bullish momentum, with the +DI (14.93) below the -DI (16.41) and an ADX value of 23.65, indicating a mild bearish trend.
A rise in the ADX above 25 could signal stronger selling pressure in the near term.
Author: Olivia Stephanie
