Worldcoin Under Pressure: Key Support at $0.466, Next Target $0.40

In October, Worldcoin (WLD) is showing a downward trend. On October 17, the price reached $0.547, but the next day it fell to $0.478. Short-term volatility was accompanied by a 5.1% decrease in open interest over 24 hours and a 2.4% drop in the token's price. Over the past week, Spot CVD has been declining, and the Funding Rate turned negative in the last 24 hours. This indicates bearish short-term expectations and a bias towards short positions. AMBCrypto reported that retail FOMO from South Korea and the subsequent short squeeze were among the factors for the rebound to $0.55; the hype around AI and the technological roadmap also supported a positive outlook on Worldcoin.

Swing traders and long-term investors should monitor key levels. According to the Fixed Range Volume Profile tool, constructed from the annual low of $0.227 to the peak of $0.727, the Value Area High was $0.577, the Value Area Low was $0.358, and the Point of Control (red line) was $0.50, which coincided with the round support level. Since the end of September, bulls have been trying to hold this zone, but recently the price has dipped slightly below.

There is also local support in the 0.46–0.47 zone: candle wicks have already dipped there, after which the price slightly bounced. A drop below $0.46 could lead to a correction to $0.40 and even to the VAL at $0.358.

The $0.466 level on the 4-hour chart has been important since the end of September, and the $0.56 zone above is a supply zone where a bearish reaction is possible upon retest. In October, WLD has been forming lower highs and equal lows—a sign that sellers are taking control and could push the price below $0.466. The A/D indicator has been flat in recent days, and the RSI on H4 has been hovering around neutral territory. Closing H4 below $0.466 will turn the market structure bearish, and traders may then expect a move to $0.40.