Summary
• Price declined 2.7% on 24-hour volume of 8.18M WLD and $4.41M turnover.
• A bearish engulfing pattern formed at 0.556–0.558 after 18:00 ET, confirming downward momentum.
• RSI (14) reached oversold levels below 30, hinting at potential near-term rebound.
• Bollinger Band contraction at 0.545–0.546 suggested a possible breakout.
Worldcoin/Tether (WLDUSDT) opened at 0.5558 at 12:00 ET − 1 and fell to a low of 0.5371 before closing at 0.5408 at 12:00 ET. The pair traded between 0.557 and 0.5371 during the 24-hour window. Total volume was 8.18 million WLD, and notional turnover reached $4.41 million.
Structure & Formations
Price tested key support levels at 0.546 and 0.545, with a bearish engulfing pattern forming at 18:00 ET confirming a shift in sentiment. A doji at 0.5453 and the 0.5455–0.5449 consolidation suggested indecision. The 0.543–0.545 zone appears to be a new near-term floor, while 0.552 and 0.556 levels may act as overhead resistance.
Technical Indicators
MACD (12,26) showed bearish divergence as it crossed below the signal line, with a negative histogram growing in magnitude. RSI (14) hit 29 at 0.5407, indicating oversold conditions, though this has not yet triggered a strong rebound. The 20-period moving average fell below the 50-period line, suggesting downward momentum could continue.
Volatility and Bollinger Bands
Bollinger Bands contracted tightly around 0.545–0.546 in the early hours of January 18, signaling a potential breakout. Price has since moved below the lower band, indicating increased bearish pressure. The expansion of the bands in the last 5 hours suggests a possible continuation of the downward move.
Volume and Turnover
The largest 5-minute turnover spike occurred at 10:00 ET when the price was at 0.5407, with $114.83 million in notional value traded. This coincided with a sharp drop from 0.5416 to 0.5407, suggesting significant selling pressure. Volume was generally aligned with the price decline, indicating no clear divergence.
Fibonacci Retracements
A 5-minute Fibonacci analysis of the 0.5581–0.5407 swing identified 0.5449 (38.2%) and 0.5419 (61.8%) as key support levels. Price found support at 0.5449 and is currently hovering near the 61.8% level, which could see renewed activity if buyers re-enter the market.
Worldcoin appears to be in a consolidation phase after breaking below key support levels. While the current bearish momentum is strong, the RSI suggesting oversold conditions and the 0.540–0.545 range acting as a magnet could mean a short-term bounce is possible. Investors should remain cautious, as a test of 0.5371 and the 0.530 psychological level could follow if bearish pressure continues.
Comments
No comments yet