Worldcoin slides 28% as profit-taking derails the uptrend

Worldcoin [WLD] had been trending higher over the past week before profit-taking forced a steep retracement over the past three days. The $1.5 billion market cap altcoin slid 28.68% in the past 36 hours.

However, unlike Bitcoin [BTC] or Ethereum [ETH], the altcoin maintained a bullish swing structure on the 1-day chart. In May, it sank below the late-March swing low at $0.243 (orange). Since then, the lower high at $0.329 (green) has been breached, shifting the structure bullishly. The rally extended up to $0.63 and is now undergoing a retracement.

The wider crypto sentiment has left WLD holders doubtful — will the altcoin resume its uptrend after the current pullback? Apart from the Bitcoin selloff in recent days, there was another factor behind the price slump: Worldcoin