- Worldcoin has had Bearish Momentum on the daily graph since mid -December.
- The steady sales pressure and the lack of speculative conviction meant that recovery was double difficult for the bulls.
Worldcoin [WLD] Did 34% dropped in just over three weeks after the buyers had handled a bullish market structure on the first week of January in the first week of January.
This step is expected to initiate a recovery, but since then its investors witnessed pain. The threatening token unlocks the bearish expectations.
Worldcoin is wearing crumple psychological level
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Source: Wld/USDT on TradingView
Worldcoin is almost completely withdrawn to the 100% retro level at $ 1,589. In recent weeks, the inability of the Bulls to defend the support level of $ 2.14, an indication for a decrease to $ 1.59.
This was because $ 2,146 was the retro level of 78.6%.
Wld saw the volatility around this support level, but the sales pressure is persistent. The OBV was steadily reduced in January and was near the lows at the time of the press from November.
The lack of purchase volume meant that further losses could be expected. The next support zone was $ 1.4, where a recovery started in September 2024.
The daily RSI has been below the neutral 50 for the past six weeks.
The defense of $ 1.6 and a reversal in the sales trend on the OBV would be early signals from bullishness – but at the time of the press this result seemed unlikely.
The short -term sentiment was strong bearish. De Swift went down on Monday, January 27, saw a flurry of long liquidations.
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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 for the past five days. The open interest also slides lower in addition to the price. Together they sketched Sentiment and sales pressure.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer