WOO Community (WOO) has skilled a large value spike, with the token hitting a yr excessive $0.34 earlier within the week. Throughout this era, WOO has pumped by 50%, making it the very best gainer among the many prime 100 cash primarily based on market cap.
This rally has unsurprisingly sparked pleasure and dialogue inside the crypto neighborhood concerning the future value of the token. The query on everybody’s lips is whether or not WOO’s current rally will proceed or is a value correction imminent.
WOO Community (WOO) At the moment On A Huge Bull Run
WOO Community has witnessed a value surge up to now 24 hours, with Coinmarkecap reporting a value of $0.3172 per token. This represents a 3% improve in worth throughout that interval.
Over the previous seven days, WOO has skilled development, with a 53% rally in value. The market capitalization and buying and selling quantity have additionally skilled vital rally, up by 23.1% and 90.20%, respectively, reaching $549,520,609 and $112,479,056. This means excessive demand and energetic buying and selling of the WOO token, boosting its general worth and liquidity.
Associated Studying: Bitcoin Miners Are Nonetheless Beneath Stress – Right here’s Why
If the constructive momentum continues and the $0.28 resistance is breached, the subsequent resistance stage may very well be round $0.34, doubtlessly resulting in additional shopping for stress and an upward development for the WOO token. Nonetheless, a failure to interrupt the resistance at $0.28 decisively might lead to a correction, and the token could take a look at assist ranges at $0.2350 and even $0.2200 if bearish sentiment prevails.
WOO Worth Chart Evaluation Reveals Elevated Volatility
On the WOOUSD 4-hour value chart, in line with TradingView, the Bollinger bands are widening, with the highest bar at 0.25456650 and the underside bar at 0.20503143, as of thirteenth of April. This means a rise in volatility and the potential for vital value motion in both course.
The worth motion above the higher bar signifies that merchants have gotten extra constructive and will proceed to drive costs greater. Nonetheless, warning is suggested as a speedy change in sentiment might lead to a powerful reversal. Moreover, the Bull Bear Energy rating of 0.03839325 signifies some bullish stress available in the market however not sufficient to counsel a transparent development. This serves as a warning for traders to be cautious and actively monitor the marketplace for any vital adjustments within the development.
WOO has surged to a brand new month-to-month excessive after the 50-day shifting common (MA) crossed above the 200-day MA, forming a “golden cross” sample. The 50-day MA stands at 0.21914262, whereas the 200-day MA is at 0.20886455, indicating a constructive development which will proceed within the quick to medium time period. Given the upward momentum, merchants could take into account shopping for on dips for potential earnings.
Associated Studying: Cybersecurity Agency Warns Of Uniswap Phishing Rip-off Spreading False Exploit Data
The worth’s motion above each shifting averages suggests robust buying momentum, possible attracting extra patrons and driving the worth greater. Nonetheless, merchants ought to stay vigilant for any destructive indicators interrupting the upward development.
With a Relative Power Index studying of 75.69, the present bullish momentum in WOO seems strong and will proceed within the close to future. Nonetheless, merchants must be cautious of overbought circumstances that might lead to a drop or consolidation.
Featured Picture from WOO Community, charts from CoinMarketCap and Tradingview.com