Worldcoin (WLD) experienced a sharp sell‑off, with the 24‑hour price decline recorded at 13.55%. CoinMarketCap data showed daily trading volume increased by 33.6% despite the approach of a weekend, a period that typically sees lower activity.
During the same period, Bitcoin (BTC) and Ethereum (ETH) fell 1.26% and 1.47% respectively. The sell‑off in Worldcoin generated $4.68 million in long liquidations on Friday, 23 October, while short liquidations amounted to $517,800.
Technical overview
On the 1‑hour chart, a bullish structure formed in early September after WLD rallied above $0.45 and closed a daily session above that level. The price later retraced to $0.356 before climbing to a high of $0.619, keeping the bullish framework intact.
Recent indicators show mixed signals: the Chaikin Money Flow (CMF) is neutral at 0.0, the MACD is moving toward the zero line, and the RSI has slipped below 50, suggesting a shift toward bearish momentum on the short‑term timeframe.
Range breakout attempt
Analysis identified a short‑term trading range between $0.46 and $0.58. On 21 October, WLD closed a 4‑hour session above $0.58, but the breakout was short‑lived. Within three days, the price retraced 21.3% from $0.598 to $0.471, and technical indicators pointed to capital outflows and downward pressure.
Despite the daily bullish structure, the $0.48 range low could act as support. Swing traders may watch the 78.6% Fibonacci retracement level at $0.412 for potential buying interest.
Summary
Worldcoin’s price reversed sharply earlier in the week, losing nearly 22% over three days. While the recent decline is significant, the range low and the $0.412 retracement level remain points of interest for traders seeking a potential turnaround.
