astronaut
Pearl
Zylo Ecosystem
Bitcoin
Bitway
NEAR Protocol
Zcash
- The WOO coin price is trading flat witnessing a decline of 0.7% in the last 24 hours.
- As per Coingecko, the WOO coin is underperforming in the global cryptocurrency markets.
WOO Network is a deep liquidity network that connects traders, exchanges, institutions, and DeFi platforms. It offers zero-fee trading, cross-chain dApp, and on-chain order book exchange.
The WOO token is the utility token of the WOO Network, providing fee discounts, yield opportunities, and product-specific benefits. This platform was developed by Kronos Research, a cryptocurrency trading company.
The volume/market cap ratio for the native token of the platform is 3.62% with a TVL of $13.828 Million. It has a circulating supply of 1.774B WOO tokens, whereas the total supply is 2.23 B WOO.
The fully diluted market cap of the cryptocurrency is $507.871 Million and the market cap of the crypto is $404.176M. As per CoinMarketCap, the market cap ranking of the crypto is 113th.
WOO Crypto Derivatives Analysis
The WOO coin has higher long liquidation as compared to short liquidation of $27.92K in the last 24 hours. Also, the open interest has declined by 4.83% resulting in $17.59M. Despite this few days ago WOO reported a huge short liquidation of $283.28K indicating the presence of buyers.
WOO Crypto Technical Analysis
The WOO coin price is trading inside a consolidation zone leading to the formation of the parallel wedge pattern. It is currently taking facing rejection at higher levels. Therefore, one must wait for the crypto price to break above or below the pattern.
WOO/USD Live Chart by TradingView
The EMAs such as the 20, 50, and 200-day EMAs are following a golden crossover on the charts. Despite this, the price of the WOO crypto is not supporting the uptrend as it is facing rejection from the higher levels.
The RSI of the crypto has declined to 50.61 from the overbought zones. Based upon the current behavior of the RSI of the WOO crypto, it might decline the kev ek if 50. This might lead to weakness in the price.
Conclusion
The WOO coin has an uncertain trend, trading inside a parallel wedge pattern and facing rejection at higher levels. It is also supported by the buy signals of the EMAs, but the RSI indicator is declining. Therefore, one must wait for the WOO coin price to break in either direction of the wedge pattern in order to decide the future trend.
Technical Levels:
- Support levels: $0.100 and $0.1500
- Resistance levels: $0.4120 and $0.5270
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 or stock comes with a risk of financial loss.
