- Worldcoin price faces major resistance at the $0.70 level.
- WLD fell 28% after Arthur Hayes disclosed a full exit.
- A strong breakout could improve short-term market sentiment.
Worldcoin price is back in focus after a volatile week that saw WLD lose a large portion of its recent gains. Analyst Crypto Tony identified $0.70 as the first major upside target, although he warned that the level could prove difficult to break on the first attempt. At the same time, Worldcoin price remains under pressure following a sharp selloff that pushed the token well below recent highs.
Worldcoin Price Faces Key Resistance at $0.70
Crypto Tony highlighted $0.70 as the first major resistance zone for Worldcoin price. The analyst noted that sellers may become active once the asset approaches that level.
The chart shows Worldcoin price recovering from lower levels after a prolonged downtrend. While the move has improved short-term sentiment, resistance remains a major obstacle for bulls.
Technical traders often watch how the price reacts around major barriers. A breakout above $0.70 supported by strong volume could signal improving market strength. However, failure to clear resistance may lead to another pullback.
For now, market participants remain focused on confirmation rather than anticipation. Many traders prefer waiting for a clear break before increasing exposure.
Worldcoin Price Recovers After Hayes Exit Triggers Selloff
Worldcoin price recently suffered a sharp decline after Arthur Hayes disclosed that Maelstrom had exited its entire position. The announcement came only days after he publicly defended the trade.
Worldcoin price fell about 28% on June 6. The decline pushed WLD from above $0.56 to around $0.40 as selling accelerated across the market.
Hayes confirmed the exit in a social media post, stating, “This chart is going in the wrong direction. Dumped $WLD. I’m out.”
The selloff left Worldcoin’s price roughly 35% below its recent peak near $0.62. Despite the weakness, traders continue watching for signs of stabilization as the market attempts to rebuild momentum.
The next major test remains the $0.70 resistance area, where buyers and sellers may determine the token’s short-term direction.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
