news 
**Worldcoin (WLD) Tests Critical Support at $0.90 as Bears Maintain Control**
The current market sentiment is dictating the price action of Worldcoin (WLD), with a substantial 1.85% decline over the past 24 hours sending the token spiraling towards critical support levels.
As WLD’s price hovers near the pivotal $0.90 mark, it becomes increasingly essential for traders to closely monitor volume patterns and any potential break of this level, as failure to hold could trigger accelerated selling pressure towards deeper support zones.
Currently trading at $0.90, Worldcoin’s RSI (Relative Strength Index) reading has crossed into oversold territory, a situation that could potentially lead to a relief rally. However, it is essential for bulls to take note of the dominant bearish momentum, which continues to drive WLD price lower.
Technical analysis reveals a concerning picture with multiple bearish indicators dominating the landscape. The RSI reading of 43.22 places Worldcoin in neutral territory but exhibits a clear downward bias, hinting that selling pressure may persist before any meaningful bounce occurs.
Furthermore, the MACD (Moving Average Convergence Divergence) configuration paints a concerning story for WLD bulls, with the main line at -0.0316 sitting below the signal line at -0.0270. The negative histogram reading of -0.0046 confirms bearish momentum remains intact, signifying that recent selling pressure has not yet exhausted itself.
The current price level also places Worldcoin in a precarious position relative to key moving averages. WLD’s price is currently trading below both the 7-day Simple Moving Average (SMA) at $0.92 and the 20-day SMA at $0.97, solidifying short-term momentum in favor of sellers.
Conversely, the Stochastic oscillator readings reveal Worldcoin approaching oversold conditions, which could potentially trigger a relief rally. Nevertheless, the overall trend structure continues to pose challenges for bulls.
In conclusion, traders should closely monitor volume patterns and any potential break of the $0.90 critical support level, as failure to hold could accelerate selling pressure towards deeper support zones.
**Article Sources:**
Source: Blockchain.News
