Worldcoin [WLD] prices have slid 14.92% over the past week and were down 0.2% in the past 24 hours. The Open Interest was also down by 1.4%. The losses came alongside bearish wider market conditions.
X denizen Deniz Karasoy used the 3-day Worldcoin price chart to highlight the long-term downtrend. The technical analyst pointed to a descending trendline resistance that stretched back to 2024 on the log chart of WLD’s price action.
Since March, the altcoin has made higher lows as it challenged the $0.50-$0.55 trendline resistance zone. It has not yet breached the multi-year downtrend, but the price was “squeezed tight”, wrote the analyst.
Technical indicators give differing verdicts on Worldcoin
The 1-day swing structure was bearish, and the swing points to watch were at $0.356 and $0.619. Within this move, the internal structure has been bearish over the past ten days, when Worldcoin fell below $0.466.
The technical indicators were divided. The Directional Movement Index showed a downtrend in progress, with both the ADX (yellow) and -DI (red) above 20 on this timeframe. Yet, the A/D indicator and the CMF were relatively encouraging.
The CMF was above +0.05 to show sizeable capital inflows, while the A/D indicator was hovering around the September highs.
What next for WLD?
Based on the 1-day chart, $0.355 is pivotal. A daily session close below this level would flip the structure bearishly. Meanwhile, an ascent back above $0.444 could flip the short-term bias bullishly.
The 4-hour structure was bearish, but a rally above $0.444 (cyan) would flip the internal structure bullishly. At the time of writing, the volume indicators were neutral, meaning the demand needed for this bullish short-term bias shift was absent.
Swing traders can wait for the market to show its intent. Trying to buy Worldcoin at these price levels can be risky due to the wider market bearish sentiment.
Final Summary
- Worldcoin bears were challenging the anchor that kept the daily timeframe structure bullish, at $0.356.
- If this anchor is defended and the price rallies above $0.444, a short-term bullish bias can take shape.
