Decreased Worldcoin open interest suggests bears exerting pressure, pushing potential price down to $0.86.

The WLD token has been navigating a challenging session, with the cryptocurrency testing an intraday high near $0.91 before multiple dips. Currently, WLD is trading near $0.867, down 3.34%.

The $0.87-$0.88 range has emerged as a crucial short-term support zone, but the proximity to this band suggests oversold conditions. The Relative Strength Index (RSI) is at 41.78, below the neutral 50, further indicating oversold readings.

The Open Interest chart shows a pattern of lower highs and lower lows, indicating sustained selling pressure. This is underscored by the Net order flow lines, which show sharp negative spikes during price drops, signaling aggressive liquidations and stop-loss cascades.

The RSI's position beneath its moving average confirms that sellers currently outweigh buyers. Every rally is met with renewed selling intensity, revealing a lack of sustained demand. This back-and-forth reflects a volatile tug-of-war between buyers and sellers.

The Bearish pressure continues amid signs of possible stabilization. The token slid as low as $0.87, only to bounce strongly late in the session. However, until a break above the $0.934 level, the risk of further downside toward $0.80 or even lower remains.

The middle Bollinger Band at $0.934 remains well out of reach and acts as resistance. The Bearish dominance is evident in the token's price movement, with a steady decline from around $0.91 to near $0.868.

Possible actors contributing to the potential decline of the WLD token include early investors and public holders who were allowed to sell about 20% of the total presale tokens at the launch, creating selling pressure. Although the Trump family holds nearly a quarter of total tokens, their founder tokens are officially locked and not for sale, so the main selling pressure comes from early non-founder investors who realize quick profits, driving volatility and price drops.

The Buy/Sell Volume indicator shows sporadic buy volume consistently overshadowed by larger sell volume. Oversold readings can hint at a near-term reversal, but whether $0.86 can hold or if the token will continue its downward march remains to be seen. The question remains whether the WLD token can find the necessary buying strength to recover and break through the resistance at $0.934.

Decreased Worldcoin open interest suggests bears exerting pressure, pushing potential price down to $0.86.