Worldcoin (WLD) Faces a Momentum Test: Will Sellers Push Prices Lower?

• Worldcoin is trading at the $0.62 mark.
• WLD’s trading volume is up by over 44%.

The overall market cap is holding at $2.2 trillion, with the majority of the assets facing a tide of red. The market has yet to fully recover from the recent downtrend. Although recovery efforts are ongoing, momentum is not picking up sufficiently to escape the prevailing fear and cautious sentiment.

Among the crypto tokens, Worldcoin (WLD) is losing momentum, with a 4.53% drop in value. In the morning hours, it traded at a high of $0.6792, and the bears have pulled it down, visiting the day’s bottom range of $0.6083. According to the CMC data, Worldcoin is currently trading at the $0.6276 mark.

Notably, the asset’s market cap is positioned at $2.14 billion, with its daily trading volume having surged by over 44.58%, reaching the $1.56 billion threshold. As reported by the Coinglass data, the market has experienced an event of $5.02 million worth of WLD liquidation in the last 24 hours.  

The 4-hour trading pattern of Worldcoin clearly exhibits that the bears are in control. If their position gained stronger ground, the price might reach the $0.6114 support level. With further downside pressure, the death cross would unfold and push the price below $0.60.

Assuming a bullish shift in the WLD market, the price is expected to climb toward the resistance at around the $0.6371 range. An extended upside correction might potentially trigger the golden cross to emerge. The bulls would take the price above the $0.64 zone. 

Where is the Worldcoin Price Heading Next?

Worldcoin’s technical chart analysis displays that the Moving Average Convergence Divergence (MACD) is below the signal line while both remain above the zero line. It shows that the overall trend is bullish, but the momentum is weakening. The market may be entering a period of consolidation. 

(Source: TradingView)

The Chaikin Money Flow (CMF) indicator is at 0.03, indicating slight buying pressure in the WLD market. The capital inflows are stronger than outflows, and this does not point to strong accumulation. It reflects a mild bullish bias, but a stronger push on the upside is needed to support a more decisive move.

Furthermore, the current market sentiment of Worldcoin is in a moderately bullish zone, as the daily Relative Strength Index (RSI) is settled at 56.17. Buyers have a slight advantage over sellers, and it remains below the overbought zone. The trend leans positive as long as the value continues to hold above 50. 

With the Bull Bear Power (BBP) reading at -0.0103, there is a very slight bearish bias in the WLD market, but it is largely balanced. The reading is close to zero, so the downtrend is weak. This momentum is seen during consolidation, where neither buyers nor sellers have established clear control of the trend.

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