WLD Trapped at $0.36 as Smart Money Positions for Short Squeeze
Worldcoin (WLD) is stuck at $0.36, exactly on its 200-day Simple Moving Average (SMA), and it's unclear why. According to Luisa Crawford, the token is pinned at this level due to its lack of medium-term narrative momentum. The broader identity-layer and biometric blockchain thesis has cooled down, leaving WLD to trade solely based on macro crypto flows.
Despite the bleak technicals, smart money positioning suggests a potential short squeeze towards $0.39 if Bitcoin holds above its key support levels. Whale-tier accounts on Binance futures are positioned long with 59% of them holding long positions, which is a setup that has played out before: smart money absorbs retail panic before a price move.
However, it's essential to note that open interest dropped 6.53% in 24 hours, indicating position liquidations rather than new buying. The funding rate remains neutral at 0.005%, which means the bullish whale book isn't over-leveraged or desperate.