Worldcoin ($WLD) experienced intense selling pressure over the last 24 to 48 hours, with its price falling roughly 10% to 16% after hitting a multi-week high near $0.4146. At press time, the token hovered around the $0.30-zone, reflecting a sharp shift in market sentiment.
Initially, buyers drove $WLD from $0.2745 to $0.4146, while the Relative Strength Index (RSI) surged above 80, confirming strong momentum. However, conditions changed rapidly after the peak formed. The altcoin’s price sliced through the 78.6%, 61.8%, 50%, and 38.2% Fibonacci levels with little evidence of sustained demand. This behavior suggested that distribution was replacing accumulation as sellers steadily gained control.
The RSI subsequently fell to 44.99 and remained below its midline, indicating that bearish momentum outweighed bullish pressure. The Moving Average Convergence Divergence (MACD) reinforced that view, especially as its bearish crossover continued to produce expanding red histogram bars.
Recovery attempt stalls at key resistance
More recently, $WLD attempted a recovery from the $0.2745 base and rebounded towards $0.3026. Yet the rally stalled beneath the 23.6% Fibonacci level at $0.3076, turning the overhead resistance into a key barrier. As a result, sellers retain control for now. Unless $WLD reclaims $0.3076 on a decisive close, downside pressure could persist towards $0.2745, where stronger demand may once again influence market direction.
Liquidation pressure continues to weigh down on $WLD
$WLD’s failure to reclaim the $0.3076 resistance level is now spilling directly into derivatives positioning. Previously, weak momentum and repeated resistance rejection highlighted fading buyer conviction. At the time of writing, liquidation data revealed that leveraged traders were increasingly reinforcing that pressure. Over the last 24 hours, total liquidations reached $5.79 million, with longs accounting for $3.76 million. This imbalance suggested that bullish positions have continued to unwind after $WLD lost its breakout structure and slipped into a corrective phase.
Shorter timeframes reinforced that trend too. Over the last four hours, liquidations totalled $1.34 million. Shorts represented $893,000, while longs accounted for $450,000, reflecting growing uncertainty across both sides. Meanwhile, Binance and OKX processed $378.55 million and $268.87 million in Futures volume. According to Coinglass data, $1.06 billion in Futures volume versus $248 million in Open Interest hinted that positions were changing hands faster than traders were rebuilding exposure.
This seemed to reinforce $WLD’s fragile market structure. Until that dynamic stabilizes, recovery attempts may continue to face headwinds. The token’s near-term outlook depends heavily on whether it can hold the $0.2745 support level or break above the $0.3076 resistance. Without a clear shift in momentum, the liquidation pressure could persist, keeping the price range-bound or pushing it lower.
