In a recent market update, Worldcoin continues to consolidate following a sharp selloff that dragged prices below the psychological $1.00 threshold.

At the time of writing, the coin trades near $0.905, showing subdued sideways price action after a steep correction earlier in the week. The market’s current stabilization phase reflects an attempt to establish equilibrium between buyers and sellers as participants reassess risk following heightened volatility.

Sharp Drop in Open Interest Highlights Market Deleveraging

The most notable development in recent sessions is the dramatic decline in aggregated open interest, which fell from above $300 million to $111 million after the sharp downward move. The accompanying open interest chart shows a pronounced unwinding of leveraged positions, confirming widespread liquidations across futures markets.

This sudden contraction in open interest often signifies a “cleaner” market structure — where excessive speculative leverage is flushed out, reducing the likelihood of further disorderly moves.

Source: Open Interest

Such deleveraging phases tend to precede periods of relative calm or base formation. As the open interest remains flat near multi-week lows, volatility has diminished notably, allowing price action to better reflect organic spot demand rather than leveraged speculation. This dynamic aligns with the recent consolidation visible on short-term charts, where the coin has remained confined below $1.00 despite multiple intraday recovery attempts.

The cooling derivatives activity indicates that both buyers and sellers are exercising caution, with limited willingness to initiate large directional positions. If open interest begins to rise again without a corresponding price increase, it may signal speculative short buildup; conversely, a simultaneous rise in both metrics could suggest renewed bullish conviction.

Market Data Confirms Ongoing Stabilization

According to BraveNewCoin data, Worldcoin’s current price stands at $0.91, reflecting a 1.14% daily decline. The token’s market capitalization is $2.03 billion, supported by a 24-hour trading volume of $133.08 million, ranking it 67th globally. Despite the price slump, liquidity remains healthy, indicating that the market is still active, albeit in a consolidation phase.

Source: BraveNewCoin

This steady participation at lower price levels implies that buyers may be accumulating gradually, anticipating a potential relief rally once broader sentiment improves. However, the lack of sustained momentum above $0.95 continues to limit upside potential in the short term.

Technical Indicators Suggest Range-Bound Behavior

On the other hand, the WLD/USDT 4-hour chart reveals that the token has entered a tight consolidation band, with Bollinger Bands narrowing around current levels — a typical precursor to reduced volatility. Price action remains contained below the midline, emphasizing ongoing selling pressure despite short-term stability.

Source: TradingView

Meanwhile, momentum indicators such as the Relative Strength Index (RSI) remain neutral, suggesting indecision among market participants. The subdued RSI and flattened Bollinger structure both confirm the market’s transition into a cooling phase after heavy liquidation.

If the coin maintains support near $0.90, a rebound toward $0.98–$1.00 could unfold as market confidence returns. However, failure to defend the lower boundary may invite another wave of selling toward $0.85, where previous demand emerged.