Worldcoin's WLD token slid to $0.31 on Tuesday, trading below all major moving averages as sellers outnumbered buyers 1.3-to-1 in the futures market. The immediate downside target sits at $0.29, with traders weighing two possible paths: a dead-cat bounce back to $0.33 or a deeper flush to $0.24.
Below the moving averages
The token has been under pressure for weeks. At $0.31, WLD is trading beneath its 50-day, 100-day, and 200-day moving averages — a technical setup that typically signals bearish momentum. The last time the token held above those levels was in early March, when it briefly touched $0.40 before reversing.
Volume has been steady but not panic-driven. The lack of a sharp sell-off suggests some holders are waiting for a clearer signal before exiting. Still, the moving average crossover has kept new buyers on the sidelines.
Seller dominance in futures
Futures data tells a similar story. The 1.3-to-1 sell-to-buy ratio means for every 10 contracts bought, 13 are sold. That imbalance has been consistent over the past week, with open interest declining slightly as short positions accumulate.
Leverage in the market is moderate. Liquidations have been scattered rather than cascading, which could change if the price breaks below $0.30. A flush to $0.24 would trigger a wave of stop-losses and margin calls, accelerating the drop.
Downside target and two scenarios
The $0.29 level is the next technical floor, a zone that held during a sell-off in late February. If it breaks, the next major support is $0.24 — a price not seen since the token's post-launch low in late 2023.
Traders are watching for a dead-cat bounce to $0.33 as a possible relief rally before further declines. That scenario would see a quick 6% pop on short covering, followed by renewed selling. The alternative is a direct flush to $0.24, which would represent a 23% drop from current levels.
Neither outcome is guaranteed. The market is waiting for a catalyst — a project update, exchange listing, or broader crypto move — to break the current drift.
For now, the price action remains in the hands of sellers. Whether $0.29 holds or gives way will likely determine the token's direction for the rest of the month.
