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Worldcoin’s support levels collapse – More losses ahead?

2min Read

The defense of $1.6 and a reversal in the selling trend on the OBV would be early signals of bullishness, but not this time.

Worldcoin’s Decline Accelerates – Is a Recovery Possible?

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  • Worldcoin has exhibited bearish momentum on the daily chart since mid-December.
  • The steady selling pressure and lack of speculative conviction meant recovery was doubly hard for the bulls.

Worldcoin [WLD] has shed 34% in just over three weeks after the buyers enforced a bullish market structure break on the daily in the first week of January.

This move was expected to initiate a recovery, but investors have only witnessed pain since then. The looming token unlocks fortified the bearish expectations.

Worldcoin bears crumple psychological levels

Worldcoin 1-day Chart

Source: WLD/USDT on TradingView

Worldcoin has retraced almost all the way to the 100% retracement level at $1.589. In recent weeks, the bulls’ inability to defend the $2.14 support level was indicative of a drop toward $1.59.

This was because $2.146 was the 78.6% Fibonacci retracement level.

WLD saw volatility around this support level, but the selling pressure has been persistent. The OBV has steadily trended downward in January, and at press time was near the lows from November.

The lack of buying volume meant further losses could be expected. The next support zone to watch was $1.4, which was where a recovery began from in September 2024.

The daily RSI has been below neutral 50 for the best part of the past six weeks.

The defense of $1.6 and a reversal in the selling trend on the OBV would be early signals of bullishness – but at press time, this outcome appeared unlikely.

Worldcoin Coinalyze

Source: Coinalyze

The short-term sentiment was strongly bearish. The swift move downward on Monday the 27th of January saw a flurry of long liquidations.


Is your portfolio green? Check the Worldcoin Profit Calculator


This came alongside a WLD retest of the $1.8-$1.85 short-term support zone.

The spot CVD has been in a steady decline over the past five days. The Open Interest was also sliding lower alongside the price. Together, they outlined bearish sentiment and selling pressure.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

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Akashnath Sumukar works as a Senior Journalist at AMBCrypto. Based in Chennai, India, he has been an avid follower of the cryptocurrency market since Bitcoin’s boom and bust cycle of 2017. A graduate in Chemical Engineering, he is an expert in technical analysis. In fact, Akashnath has a particular interest in reading price charts and predicting how an asset will move over the short and long term. A self-taught trader and as someone who holds cryptos himself, he is always on the lookout for the next opportunity he can possibly capitalize on, while also educating his audience.
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