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- 1 The WOO crypto is showing bullish traits and is expected to achieve more growth in future sessions.
- 2 Major indicators including the RSI, MACD, and EMAs suggest and portray bullish gestures regarding the WOO/USD price.
WOO crypto plummeted by 1.72% in market value while the trading volume plummeted 53.94% in the last 24 hours as per CoinMarketCap, a crypto data aggregator. Its market capitalization is $924,219,046 and its trading volume is $30,996,372. There are 1,830,208,199 WOO cryptos in circulation.
WOO Network chart shows that the price took rejection from the $0.55000 supply level as the buyers struggled at the supply level in hopes of surpassing this level. The asset is showing a tremendous capacity to climb higher as its market cap is rising and volume is at its peak. The 24-hour trading volume on all the trading platforms is $31.02 Million.
Moreover, the prior price action has shown a nice jump from the demand zone which is at $0.150000, and has been following the trendline support.
Technical Analysis Of WOO
The WOO crypto asset is showing bullish traits and can achieve more growth in future sessions. Performance figures for the past week, month, and three months have been positive: 15.92%, 43.54%, and 134.16% respectively, indicating the presence of a reliable upward trend.
At the time of publishing, the WOO token had declined 0.30% in the last 24 hours to $0.507549, highlighting a price build-up and the possibility of further ascent. Several signals suggest a strong possibility that the token will be in an uptrend in the coming sessions.
The WOO crypto has displayed a sign of a strong rally as the price bounced back from a critical level of around $0.450000 on the chart. This could also signal that the uptrend will continue from this level onwards.
The token above major 20, and 50-Day EMAs. Another confirmatory signal is the MACD, which shows a bullish crossover with a broad histogram. MACD is at 0.03312, the signal line is at 0.021740, and the histogram is at 0.01139136.
The RSI shows no signs of overbought conditions, yet as the RSI curve is at 66 and moving above 14-SMA which is at 63, suggests that the asset has more room to grow until it gets into the extreme overbought territory.
Therefore, if the demand for the WOO/USD asset remains high, the asset price could bounce back from the current level. The next goal for the price is to reach $0.700000 and with resistance from the $0.60000 level.
However, if the crypto price fails to stay above the $0.40000 level, it could decline further.
Summary
WOO price chart highlights bullish sentiments and perspectives regarding the crypto asset in the daily time frame. The WOO/USD price action highlights a bullish view at the time of publishing, as it recently attempted to surge from a pivotal level.
Moreover, the technical parameters of the WOO price suggest the continuation of the uptrend over the daily time frame chart. Major indicators including the RSI, MACD, and EMAs are suggesting bullish gestures regarding the WOO/USD price.
Technical Levels
Support Levels: $0.40000
Resistance Levels: $0.60000
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
