Worldcoin (WLD) Price Prediction 2023-2024: Will WLD Recover?

Worldcoin [WLD] has shed 34% in just over three weeks after the buyers enforced a bullish market structure break on the daily in the first week of January.

Worldcoin [WLD] has seen a 34% decline in just over three weeks, following a bullish market structure break on the daily by buyers in the first week of January.

This move was expected to begin a recovery, but investors have instead seen suffering. The upcoming token unlocks also bolstered the bearish outlook.

Worldcoin bears break through psychological levels

Worldcoin has retraced nearly to the 100% Fibonacci retracement level at $1.589.

Recently, the bulls’ failure to hold the $2.14 support level indicated a drop to $1.59. This was because $2.146 was the 78.6% Fib level.

There was some volatility around this support level for WLD, but the selling pressure was persistent.

The OBV has been steadily trending down in January, and at press time was close to the lows from November.

The lack of buying volume suggested further losses could be on the cards. The next support zone to watch was $1.4, which saw a recovery begin in September 2024.

The daily RSI has been below neutral 50 for the better part of the past six weeks.

A defense of $1.6 and a reversal in the selling trend on the OBV would be early signs of bullishness – but this seemed unlikely at press time.

Worldcoin焼玉価格が34％下落、心理的サポートラインを突破

Worldcoin bear pressure persistent despite support levels

Worldcoin’s short-term sentiment was heavily bearish.

The swift move down on Monday, 27 January, saw a flurry of longs liquidated. This came as WLD retested the $1.8-$1.85 short-term support zone.

The spot CVD has been in a steady decline over the past five days. The Open Interest was also sliding lower along with the price. Together, they showed bearish sentiment and selling pressure.