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- 1 The price of WOO coin is currently trading near $0.2146 where it is undergoing a change of 19.03% in the 24-hour trading volume.
- 2 The WOO price has gained 14.84% within the last 7 days.
The WOO price prediction indicates a bullish breakout in the charts for the WOO token. The WOO price is presently making a bullish Cup with Handle pattern often observed at the beginning of a bull trend. The price is presently making a narrow consolidation channel on the daily timeframe after making the Cup pattern above 200 MA. If WOO coin succeeds in breaking out of the consolidation channel with substantial bullish momentum, the price can make a positive recovery in the near future.
WOO Network is a deep liquidity network that connects traders, institutions, exchanges, and Defi platforms with access to liquidity and execution of trading at lower or zero cost. WOO network uses WOO as a utility token that provides users with staking rewards, fee discounts, governance rights, and other benefits.
WOO Price Prediction: Technical Indicators
WOO price prediction suggests that the buyers are presently gearing up to break out of the bears’ hold according to the narrow consolidation. If the bulls succeed in making the breakout with strong momentum, the price has a strong probability of making a recovery of more than 45% within the next few weeks.
The technical indicators are giving an edge to the bulls. Although, the stochastic RSI is moving near the overbought level on the daily chart it is giving bullish indications on the bigger timeframe. The price of WOO coin is also making a bullish price pattern whereas WOO token is also gaining support from the 200 Moving average, making a narrow consolidation. Hence, there are 5 parameters in the price action that are supporting the bulls.
The current RSI value of the WOO coin is 54.51 points, facing resistance from the median line. The 14 SMA is providing support to it near 46.79 points.
The % K line and %D lines are consolidating near the overbought level. The current value of the stochastic RSI is 88.26 points.
Conclusion
According to the analysis, price prediction for WOO suggests that a bullish breakout is in order for WOO token. In the price action, there are 5 parameters that are supporting the bulls on the daily timeframe. If the bulls succeed in making a breakout, there is a strong probability of making a recovery of more than 45% in the near future.
Technical Levels:
Support -$0.1500
Resistance – $0.2300
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
