Worldcoin drops 9.06% as sellers take control near $0.5515 support

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Worldcoin drops 9.06% to $0.58 today

Highlights

Worldcoin surpassed 10 million World ID verifications following expansion into Asia and Latin America, driving user growth and platform utility.
24-hour trading volume in Worldcoin outpaced Dogecoin at $1 billion, with a forthcoming daily unlock rate reduction of 43% planned for July 24.
WLD/USD faces persistent short- and medium-term selling pressure, with intraday technicals signaling a downside bias and an expected trading range of $0.5515 to $0.6618.

User growth and reduced unlocks spur activity amid selling pressure

Worldcoin expanded its Orb verification operations into new markets across Asia and Latin America, reaching over 10 million World ID verifications, according to DiarioBitcoin. This milestone reflects a substantial increase in authenticated platform users, suggesting improved long-term utility and operational momentum. Meanwhile, Worldcoin was reported by Cryptoadventure to have seen its 24-hour trading volume overtake Dogecoin at approximately $1 billion, highlighting robust intraday market participation. Fxempire noted that a planned 43% reduction in the daily unlock rate is set for July 24, aiming to address future supply increases, though price action has remained under broader selling pressure.

Bearish momentum dominates as oversold signals hint at rebound risk

WLD/USD has moved below both the MA-20 ($0.6249) and MA-50 ($0.6231) on the hourly chart, while remaining above the long-term MA-200 at $0.4053. The Ichimoku Kijun at $0.6259 acts as immediate resistance for intraday moves. Key downside levels to monitor include the $0.5515 support, with resistance at the Kijun and above. Momentum signals remain negative: the MACD shows a Sell bias, ADX is Neutral, and BBP reflects seller dominance. However, oscillators such as RSI (35.5), Stoch RSI, and CCI are currently oversold, suggesting market exhaustion on the downside. The Awesome Oscillator (AO) further supports the bearish intraday move, but the oversold state of oscillators hints at divergence and the potential for short-term rebounds.

Downside favored as price risks extend within defined volatility band

In the near term, WLD/USD is expected to fluctuate within the $0.5515 to $0.6618 range, reflecting a typical volatility band relative to current levels. The probability for continued downward movement remains high at 78%, whereas a rebound scenario carries a 22% chance. The baseline scenario anticipates that WLD/USD will stabilize and consolidate within this projected range. A break above $0.6259 would be required to initiate a bullish reversal, while a breach of $0.5515 support could accelerate downside momentum.

Anton Kharitonov, expert at Traders Union, views Worldcoin's recent operational milestones as positive for long-term fundamentals but remains sceptical in the short term. He notes ongoing selling pressure with WLD/USD trading below key moving averages and negative momentum signals dominating the technical outlook. Unless $0.6259 is reclaimed, the analyst expects downside risks to persist. "Base case remains further consolidation near session lows — I remain defensive until sellers lose control or support at $0.5515 fails to hold."

Earlier, analysts noted that Worldcoin was exhibiting bullish momentum and resilience above key support levels. However, current technical signals confirm a shift toward seller dominance and downside pressure, making the $0.5515 support a crucial threshold to watch for potential acceleration of bearish momentum or a possible short-term rebound if oversold conditions trigger a reversal.

Source of Data: WLD Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.