Worldcoin (WLD) quickly retreated after hitting a multi-week high, with a drop of approximately 10% to 16% in the past day or two. As of press time, the token price has returned to around $0.30, and short-term sentiment has clearly weakened.

After falling from its high, the key trading range was breached.

Previously, buying had pushed WLD up from $0.2745 to $0.4146. However, the upward trend quickly reversed, with the price breaking through multiple retracement levels, indicating a rapid increase in selling pressure.

The article mentions that WLD's latest rebound started around $0.2745, then rose to $0.3026, but encountered resistance again around $0.3076, and the rebound failed to continue. This means that this level has become a resistance level that needs to be reclaimed in the short term.

$5.79 million was liquidated within 24 hours.

Data from the derivatives market also reflects accumulating pressure. In the past 24 hours, total WLD liquidation reached $5.79 million, of which $3.76 million were long positions, indicating that leveraged positions previously betting on an upward move are being liquidated in a concentrated manner.

In the shorter term, the liquidation amount in the past 4 hours was $1.34 million. Of this, short positions were liquidated at approximately $893,000 and long positions at approximately $450,000, indicating that both long and short positions are rapidly adjusting their positions in the short term, and volatility remains high.

Futures trading was active but open interest was relatively weak.

At the exchange level, the trading volume of WLD futures on Binance and OKX reached US$378.55 million and US$268.87 million respectively, indicating that the turnover of funds remained active.

However, Coinglass data shows that total trading volume for WLD futures was approximately $1.06 billion, while open interest was approximately $248 million. Trading volume significantly exceeded open interest, typically indicating rapid position turnover, but the recovery in new exposure was limited, suggesting a still fragile market structure.

Overall, WLD has not yet broken out of its short-term correction. If the price cannot regain $0.3076, the upside potential may continue to be limited; only if it falls to around $0.2745 will the market be able to observe clearer support again.