Will it Sustain the Bullish Momentum

The WOO price prediction suggests that the WOO cryptocurrency has the potential to rebound from its current position and reach the upper levels. 

To initiate the recovery, the price needs an influx of buyers on the daily chart. In DEC 2023, WOO reached its peak at $0.52691166 but couldn’t sustain this level, resulting in a drop of approx 37%. Currently, the WOO cryptocurrency is awaiting a strong upward momentum to move towards the upper levels on the daily chart.

The WOO price was at $0.38020099 and gained 3.35% of its market cap during the day’s trading session. The trading volume has decreased by 10.54% during the intraday trading session. It showcases that sellers are still present in the trade to pull WOO crypto downwards.

The WOO price analysis suggests the struggle of WOO crypto at the current level to initiate its recovery phase. However, the WOO crypto needs to advance the accumulation rate of buyers in order to start its recovery from the current level.

Furthermore, crypto is trying to maintain above 20, 50, 100, and 200-day daily moving averages. To surge high and reach the recovery level, the WOO cryptocurrency must attract potential buyers.

Notably, the crypto experienced a 9.32% increase in the past week but also suffered a notable loss of approximately 6.50% over the last month.

Looking at the broader timeframe, the WOO cryptocurrency has shown substantial growth, with a 42.70% increase over the last three months and an impressive surge of 96.84% within the past six months. 

Moreover, the WOO crypto price has demonstrated a remarkable recovery, rising by around 17.75% from the 100-day EMA level. It highlights the significant strides the cryptocurrency has taken on its path to recovery in FEB 2024.

Technical Analysis of the WOO Crypto

Technical indicators suggest that WOO cryptocurrency is encountering buyers as it bounces from the lower trendline.

The relative strength index (RSI) indicates that the WOO crypto is currently bouncing back. Additionally, the moving average convergence divergence (MACD) signals an upward trend in the price.

The RSI is situated at 53 and remains steady, indicating a neutral stance. Furthermore, the MACD line is currently overlapping with the signal line and heading towards the positive zone. Therefore, investors involved in WOO cryptocurrency should exercise patience and monitor the daily chart for any significant directional changes.

Summary 

The WOO price analysis suggests that the WOO crypto has the potential to rebound from its current position to reach the upper level. WOO cryptocurrency must attract potential buyers. Moreover, in recent times, the price has demonstrated a remarkable recovery, rising by around 17%. Based on technical indicators, WOO cryptocurrency will see a potential rise in the upcoming days. 

Technical Levels

Support Levels: $$0.33544444 and $0.29087842

Resistance Levels: $0.49151543 and $0.52572248.

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.

Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.