Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnAISquareMore
Examining Worldcoin’s price recovery options after 22% weekly correction

Examining Worldcoin’s price recovery options after 22% weekly correction

CryptoNewsNetCryptoNewsNet2026/06/23 21:45
By:CryptoNewsNet
Back to the list

Examining Worldcoin’s price recovery options after 22% weekly correction

Examining Worldcoin’s price recovery options after 22% weekly correction image 0  ambcrypto.com 29 m
Examining Worldcoin’s price recovery options after 22% weekly correction image 1

The crypto market has suffered a sizeable sell-off in recent hours. Since reaching a high of $65,622 on Monday, June 22, Bitcoin [$BTC] has fallen by 3.55% to $62,466. The altcoin market cap has also shrunk 3.85% since Monday’s high.

Since the final week of May, Worldcoin [$WLD] has seen a short-term uptrend. Last week, the altcoin reached a high of $0.723 on Wednesday, June 17. Since then, it has fallen by 22.17%, and the past 24 hours of trading alone saw $WLD shed 11.5%.

The Open Interest has decreased by 16.05% in 24 hours, according to Coinalyze data. The swift price losses and declining speculative interest underlined the short-term bearish pressure on Worldcoin.

Assessing the hopeful Worldcoin price structure

Examining Worldcoin’s price recovery options after 22% weekly correction image 2 Source: $WLD/ $USDT on TradingView

Despite the falling prices in recent days, $WLD has made significant progress over the past month. The token made a bullish internal shift towards the end of May, when its prices surpassed a local high at $0.329 [green]. Since then, $WLD has rallied swiftly and managed to surpass the $0.654 high made in February.

The daily session closed above this high from February marked a bullish swing structure shift on this timeframe. In this context, the losses of the past week were part of a retracement phase. Based on the swing move from $0.2267 to $0.7229, a set of Fibonacci retracement levels [yellow] was plotted.

The $0.4748, $0.4162, and $0.3329 levels are particularly important supports. Worldcoin bulls might be able to bring about a bullish reaction after a retest of one of these levels.

Swing traders and investors must remember that the Bitcoin long-term trend was bearish. A severe $BTC sell-off could spark a deep $WLD retracement in the coming months.

$WLD traders might get another chance to buy

Examining Worldcoin’s price recovery options after 22% weekly correction image 3 Source: $WLD/ $USDT on TradingView

The 4-hour structure was bullish, with the $0.462-$0.518 area being the golden pocket for buyers. A drop below $0.391 would invalidate the bullish H4 structure, and serve as a warning of a deeper retracement toward $0.332.

The technical indicators on this timeframe were leaning bearish. The RSI had dropped to 34, signaling hefty downward momentum recently. The CMF slid below -0.05, showing heightened capital outflows and selling pressure.

Overall, the key $WLD demand zones were clearly visible, and cautious bullishness was warranted. At the same time, a Bitcoin slide below $60k could lead to a deeper reset.

Final Summary

  • The Worldcoin price action was firmly bearish in recent days, and the altcoin has shed 22% in under a week.
  • Despite this correction, there was a chance that $WLD bulls would manage to defend important support levels and keep the upward move going in the coming weeks.
0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

Hedge funds have just rebuilt tech long positions, but Nasdaq's key support has begun to weaken

The Nasdaq 100 Index is approaching the lower boundary of its months-long consolidation range, with futures breaking below the uptrend line and the 100-day moving average, signaling technical weakness. Hedge funds had previously made substantial purchases of tech stocks, leading to concentrated positions that amplify downside risks. AI safety controversies and energy supply risks now serve as dual catalysts. If key support levels are lost while market panic remains subdued, volatility may be subject to a reassessment.

华尔街见闻2026/09/14 16:12