After bearish for a while on the hour charts now is bullishThe analysis of Worldcoin (WLD) reveals key insights about its candlestick patterns and potential price movements:

1. Current Price Behavior:

WLD is trading near a key support level of $1.60, which aligns with the 0.786 Fibonacci retracement. This area is significant as it often signals the end of a corrective phase and the start of a potential bullish move.

Recent price movements formed a descending triangle, suggesting consolidation and potential upward breakout​​​​.

2. Hourly Candlestick Patterns:

WLD's price displays consistent testing of support and resistance levels in smaller timeframes. Breakouts from descending patterns in these shorter intervals may confirm the beginning of a bullish phase.

A five-wave bullish pattern was recently completed, followed by a corrective wave. Observing the next movements will be critical for determining if a new bullish impulse is forming​​​​.

3. Daily Candlestick Patterns:

On the daily chart, WLD entered a horizontal trading range after a significant decline earlier this year. This movement suggests the possibility of a reversal in trend if key resistance levels (e.g., $2.20 and $2.67) are broken.

The daily trend also indicates strong resistance at $2.50, a recent high, with the potential for a climb to $3.70 based on Fibonacci extensions if the bullish momentum continues​​​​.

The next significant move for WLD depends on its ability to hold above $1.60 and break resistance at $2.20. For short-term trading, focus on hourly patterns near these key levels, while long-term strategies may benefit from observing the $3.70 target as an opportunity.

Always exercise caution with volatile assets like WLD and consider consulting a financial advisor for personalized strategies.