- Woo price is up by 2.12% in the current session on 15 sept.
- Woo price has declined -0.73% in a week, -11.28% in a month and surged by 10.42% in a year.
- Woo price is forming a three white soldier candlestick pattern as it is surging for 3 straight sessions.
Market capital of Woo network – $287.059 million
Current market price of Woo network – $0.16436
Woo Network price is forming a base as it is trading flat since May 2022 which is more than 1 year now. Woo coin price is up for three consecutive sessions which indicates that the buyers are slowly taking charge. Although the big candles are missing which can change the sentiment for the coin.
The price has been trading in a broader range of $0.343 and $0.0947 for more than one year. The price has declined by over 50% from its 52 week low which means the price is in a downtrend. WOO network price is trading near to its previous reversal levels i.e $0.147 and it seems the price has taken a support this time also .
The price of WOO coin is trading below all the important EMAs levels of 50 and 100. The EMAs are present at $0.176 and $0.1900 respectively. The slope of the EMAs is downward which indicates that the price is currently in a downtrend .
In the hourly time frame the coin is trading in a falling wedge pattern and the price is currently trading very close to the resistance level. The coin has also formed a double bottom at the level $0.144 , from there the price has jumped nicely by over 12%. There is a great spike in the volume at resistance level which means that there is some profit booking happening in the coin.
The spike on volume at both resistance and support zone is visible on the chart and it is follow by a reversal move. As we discussed above, the price has formed a double bottom pattern at bottom and rising good which is a good sign. Price can face some rejection from here but whether the downfall will sustain it is highly doubtful.
WOO price has formed some crucial levels for the future price movement which can act as resistance and support for the price. The important support level is near $0.145 – $0.142. Downward sloping trendline will act as a resistance which is present near the level $0.165. The other resistance levels are present near $0.1807, $0.1966 and $0.2226 respectively.
Conclusion
The price is currently in a downward trend but showing some bullish momentum along with some bullish pattern and candlestick. If the price is able to break the the trendline and sustain above that then it can show some good upside. If the price breaks the level then it have to cross some hurdle to claim the 52 week high level.
Technical level-
- Resistance – $0.163 and $0.1807
- Support – $0.144
Disclaimer
The analysis is done for providing information through technical analysis. And no investment suggestions are given in the article to be made by investors. The coins are unpredictable so investors should have proper knowledge. Cryptocurrencies are highly volatile and risky. Investment should be made with proper technical analysis.
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