Worldcoin has risen over 6% in the past 24 hours, reaching $0.63 and currently testing a key resistance level near $0.66. The article notes that short-term trading activity for WLD is increasing as a golden cross appears on the daily chart and open interest rises.
The daily chart structure is strengthening.
As seen in the chart, WLD's price has been rising steadily, with both highs and lows increasing, since rebounding from a low of approximately $0.23. The recent rebound has pushed the token above its short-term moving average and formed a golden cross on the daily chart.
The article argues that this change indicates a slowdown in the previous downward trend and a recovery in buying power. The $0.60 level is currently considered short-term support; if the price continues to hold above this level, the main resistance is concentrated around $0.66.
The RSI also remained above neutral and continued to rise. According to the article, this indicates that buying pressure is still ongoing, but the indicator has not yet entered a clearly overheated zone.
Short covering pushes up volatility
Derivatives data is another factor supporting this rally. The article states that the upward movement of WLD was accompanied by significant short covering, with some bearish positions being forced to exit after the price rose.
Such passive buying often amplifies short-term gains, especially when prices approach resistance levels, making it easier to push up volatility. The article mentions that WLD has experienced similar short squeezes multiple times in the past few weeks, indicating that it is difficult for sellers to regain control of the market.
Open interest continues to increase
In addition to the liquidation data, WLD's open interest also rose in tandem with the price. The article argues that this indicates new funds are entering the derivatives market, rather than simply a price rebound following the closing of old positions.
If this trend continues, market bets on further upward movement may increase. However, the article also mentions that if prices stagnate and open interest falls, it may indicate that some funds are starting to take profits, and the momentum for a breakout will weaken accordingly.
From the current range perspective, $0.66 remains the most closely watched level in the short term. If the price breaks through this level effectively, the next target mentioned in the article is around $0.80, followed by the $1 to $1.02 area; if the $0.60 support is breached, the short-term trend may slow down.
