Worldcoin (WLD) dropped 11% on Tuesday to around $0.5294, making it the biggest loser of the day among the top altcoins. This sharp fall happened just hours after Robinhood added WLD to its crypto lineup. Normally, such news would attract buyers, but instead, it triggered heavy selling.
Trading volume helps explain the drop. Turnover jumped 37% to more than $504 million, pushing the 24-hour volume-to-market-cap ratio to 27.38%. This mix of a double-digit Worldcoin price drop and rising volume suggests that many investors were actively selling.
Sellers pushed the price down from a 24-hour high of $0.5906 to a low of $0.5078, before it recovered slightly to $0.5313. This drop happened alongside a broader market decline. The total crypto market cap fell 1.41% to $2.15 trillion, Bitcoin slid to $62,600, and the Fear & Greed Index stayed at 20.
In this cautious market, Worldcoin (WLD) acted like a high-risk asset, turning a general pullback into a much bigger loss. The Robinhood news was not enough to change that.
Worldcoin Price Prediction Hinges on the $0.45 Support Floor
Technical data reveals that Worldcoin formed a classic rounding bottom pattern in the first half of the year, starting from its all-time low of $0.2279 in May. This is still far below its March 2024 record of $11.82, meaning the price has dropped by 95.5% since then.
The recent Worldcoin price recovery happened during excitement about the upcoming OpenAI IPO, following the successful SpaceX IPO. This pushed the Worldcoin token above $0.60 in early June, peaking near $0.68. However, the breakout did not last. Tuesday’s drop brought WLD back below $0.60, making the earlier move look like a false signal or the start of a correction.
Momentum indicators support a cautious view. The relative strength index (RSI) reached an overbought level near 70, but has now dropped below its signal line to 54.57, which is under its average of 61.62. This shows that buyers have lost control in the daily chart.
Right now, the key support level is between $0.45 and $0.48. In a recent BanklessTimes coverage, we described WLD’s decline as profit-taking amid an ongoing uptrend, aided by its connection to OpenAI and an upcoming 43% cut in daily emissions in July.
This outlook only holds if support stays above $0.45. If the price consolidates above this level, it would finish the cup-and-handle pattern and could lead to a daily close above $0.60, possibly opening the way to $0.80 and the key $1.00 level.
However, if the Worldcoin price falls below $0.45 and the RSI continues to decline, the pattern would break down. This would put the $0.35 support/resistance level at risk, with $0.21 as the next major support below that.
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