WOO Community (WOO) has skilled an enormous worth 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 best gainer among the many high 100 cash primarily based on market cap.
This rally has unsurprisingly sparked pleasure and dialogue throughout the crypto group concerning the future worth of the token. The query on everybody’s lips is whether or not WOO’s current rally will proceed or is a worth correction imminent.
WOO Community (WOO) At present On A Huge Bull Run
WOO Community has witnessed a worth surge prior to now 24 hours, with Coinmarkecap reporting a worth 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 worth. The market capitalization and buying and selling quantity have additionally skilled important 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 Still Under Pressure – Here’s Why
If the constructive momentum continues and the $0.28 resistance is breached, the subsequent resistance stage could possibly be round $0.34, probably resulting in additional shopping for strain 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 Value Chart Evaluation Exhibits Elevated Volatility
On the WOOUSD 4-hour worth chart, in accordance 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 important worth motion in both route.
The value motion above the higher bar signifies that merchants have gotten extra constructive and should proceed to drive costs larger. Nonetheless, warning is suggested as a speedy change in sentiment might lead to a robust reversal. Moreover, the Bull Bear Energy rating of 0.03839325 signifies some bullish strain available in the market however not sufficient to recommend a transparent development. This serves as a warning for buyers to be cautious and actively monitor the marketplace for any important modifications within the development.
WOO has surged to a brand new month-to-month excessive after the 50-day transferring 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 that will proceed within the brief to medium time period. Given the upward momentum, merchants could take into account shopping for on dips for potential income.
The value’s motion above each transferring averages suggests robust buying momentum, seemingly attracting extra patrons and driving the worth larger. 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 should proceed within the close to future. Nonetheless, merchants must be cautious of overbought situations that would lead to a drop or consolidation.
Featured Picture from WOO Community, charts from CoinMarketCap and Tradingview.com