Worldcoin price drops 21% following failed breakout

Worldcoin (WLD) experienced a significant price correction, falling 21.3% from a high of $0.598 to $0.471 after failing to sustain a breakout above its recent trading range of $0.46 to $0.58.

The decline was accompanied by a 33.6% increase in 24-hour trading volume. On October 23, the market saw approximately $4.68 million in long position liquidations, significantly outpacing short position liquidations, which totaled $517,800.

Technical indicators suggest a shift in momentum. On the 1-hour chart, the Relative Strength Index (RSI) fell below the neutral 50 level, signaling bearish momentum, while the Chaikin Money Flow (CMF) remained neutral. Despite the recent drawdown, some analysts note that the broader daily structure remains bullish, with potential support identified in the $0.48 range.