Worldcoin Extends Downtrend Amid Weak Open Interest and Price Stabilization

Worldcoin (WLD) continues its downward trajectory, hovering near multi-month lows as both spot and Leveraged markets show diminished momentum. The asset's failure to stage a meaningful recovery underscores persistent bearish sentiment.

Open interest in WLD derivatives has declined steadily, dropping from 83.5M to 82M between the 12th and 14th. This reduction reflects traders closing positions rather than adding new short pressure—a sign of market de-risking rather than capitulation.

The 1-hour chart paints a clear bearish picture, with lower highs and lower lows forming consistently since November 10. Brief stabilization attempts on the 17th-18th produced only weak, indecisive price action. The minor uptick in open interest during this period suggests tentative positioning, but lacks the conviction needed to reverse the trend.

At $0.67, WLD's market capitalization maintains a tenuous hold above $1.56 billion. The current technical setup offers little evidence of an imminent turnaround, leaving the asset vulnerable to further downside unless buying pressure materializes.