Worldcoin (WLD) dropped more than 3% in the past day, slipping below $0.50 as selling pressure persists despite rising open interest. The token is now trading below half a dollar but holding above its key exponential moving averages, according to market data.
Technical levels hold, for now
Immediate support sits at $0.504 — the 23.6% Fibonacci retracement. If that floor breaks, the next major level is lower. On the upside, resistance stands at $0.567 and $0.676. The Relative Strength Index is near 53, showing bullish momentum without reaching overbought territory.
Open interest climbs, longs regain edge
Open interest rose to $406.86 million as of this report, up from $377.25 million on Sunday. That marks a steady increase since mid-May. The long-to-short ratio recovered to 1.01, meaning long positions now slightly outnumber shorts — a shift from recent days when shorts had the upper hand.
Retail flow and sell-side dominance
CryptoQuant data shows elevated retail participation in spot and futures markets, alongside sell-side dominance. That suggests the price decline is being driven more by retail distribution than institutional dumping. It also means the recovery in open interest may be mostly retail longs opening positions — a setup that could prove fragile if the selling continues.
The next test for WLD is whether it can hold the $0.504 support. If buyers step in, a bounce to $0.567 is possible. If not, the token could slide further, with the next floor unclear.
