Worldcoin (WLD) is currently trading at $0.59103, reflecting a significant decline of 5.94% over the last 24 hours. The daily trading range has been relatively tight, oscillating between a low of $0.582848 and a high of $0.648066, indicating a market under pressure.

Volume stands at 113,304,723, equating to 7.84% of the market cap, which suggests a moderate level of trading activity. The 1-hour RSI is critically low at 24, indicating potential oversold conditions, while the 7-day RSI sits at a neutral 50, showing a lack of momentum in either direction.

Short-term moving averages indicate bearish sentiment, particularly with the 55 SMA showing a decline of 4.34%. This aligns with the 14-day price change of -8.93%, suggesting that WLD has been consistently losing value over the recent weeks.

In a longer-term perspective, the 30-day price change of -26.01% highlights a significant downtrend, and the price is currently far from its all-time high of $11.74, recorded earlier this year. This stark contrast emphasizes the magnitude of the recent decline and raises concerns about market recovery.

Given the current oversold conditions indicated by the 1-hour RSI and the presence of a possible bounce from the immediate support level, there may be a short-term trading opportunity. However, the sustained bearish trend reflected in longer-term indicators suggests caution.

Considering these factors, I recommend a Hold rating on Worldcoin (WLD) at this time. This strategy allows investors to assess potential short-term recovery while being wary of the prevailing longer-term downtrend that could further pressure the price.