WOO Network Posts 50% Rally In Last 7 Days – Will WOO Keep Rising Next Week?

WOO Community (WOO) has skilled an enormous worth spike, with the token hitting a 12 months excessive $0.34 earlier within the week. Throughout this era, WOO has pumped by 50%, making it the best gainer among the many prime 100 cash primarily based on market cap. 

This rally has unsurprisingly sparked pleasure and dialogue throughout the crypto neighborhood in regards to the future worth of the token. The query on everybody’s lips is whether or not WOO’s latest rally will proceed or is a worth correction imminent. 

WOO Community (WOO) At present On A Large 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% enhance 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 vital rally, up by 23.1% and 90.20%, respectively, reaching $549,520,609 and $112,479,056. This means excessive demand and lively buying and selling of the WOO token, boosting its total worth and liquidity.

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If the constructive momentum continues and the $0.28 resistance is breached, the subsequent resistance degree may very well be round $0.34, doubtlessly resulting in additional shopping for stress and an upward development for the WOO token. Nevertheless, a failure to interrupt the resistance at $0.28 decisively might lead to a correction, and the token might take a look at assist ranges at $0.2350 and even $0.2200 if bearish sentiment prevails.

WOO Worth Chart Evaluation Exhibits Elevated Volatility

On the WOOUSD 4-hour worth chart, in keeping 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 implies a rise in volatility and the potential for vital 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. Nevertheless, 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 recommend a transparent development. This serves as a warning for buyers 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 that will proceed within the quick to medium time period. Given the upward momentum, merchants might think about shopping for on dips for potential earnings.

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The value’s motion above each shifting averages suggests robust buying momentum, seemingly attracting extra consumers and driving the value larger. Nevertheless, merchants ought to stay vigilant for any detrimental indicators interrupting the upward development.

With a Relative Power Index studying of 75.69, the present bullish momentum in WOO seems sturdy and should proceed within the close to future. However, merchants needs to be cautious of overbought circumstances that might lead to a drop or consolidation.

Featured Picture from WOO Community, charts from CoinMarketCap and Tradingview.com