Worldcoin (WLD) Rebound Unlikely Yet; Consolidation Is Key First

• Analyst Altcoin Sherpa says Worldcoin (WLD) could drop further.
• He advises traders to wait for consolidation before entering.
• The chart shows recent gains erased by a steep correction.

Crypto analyst Altcoin Sherpa believes Worldcoin (WLD) is not yet ready for a rebound. In a post on X, he wanted the asset could revisit lower levels. Therefore, he recommends waiting for consolidation before making a buy decision.

WLD Experiences Volatility After Sharp Rally

In his market update, Sherpa posted a chart of WLD’s price movement, which showed a steep rise followed by a noticeable decline. The chart includes Fibonacci retracement levels applied to the recent upward move. According to him, while the 0.50 Fibonacci level had previously been on his radar, he ultimately chose not to buy at that point.

As of this press time, Worldcoin is trading at $1.48, after a 5.3% decline in the past day. Yet, the coin has seen an impressive 72.4% surge in the past month. 

Related: WorldCoin ($WLD) Price Prediction for May 24: Bulls Eye $1.73 as Rally Cools Below Key Resistance

Reflecting on the broader price action, Sherpa noted that applying Fibonacci retracement …

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