WOO Price Analysis: Will the Golden Level support WOO price?
- The WOO price is currently trading at $0.2836 while seeing a change of 46% in 24-hour trading volume.
- The WOO price is observing an increase of 12.24% in the last 24 hours.
At present, the WOO price is trading on a bull trend above the 200 EMA on the Daily timeframe. The investors are trading in favor of the WOO coin despite the bear’s attempt to take control back. Overall market sentiments of the major cryptocurrency are trading near a fragile support zone. Though the expectations of the future trend seem to bow in the bull’s favor.
As illustrated in the picture given below, the WOO price is taking major support from the golden line of 0.382 Fibonacci levels. The golden level is also being reinforced by the 20 EMA line at a price of $0.2544. Where the Ocilators are also favoring the bullish move. Where the RSI is taking support from the median line the stochastic RSI is giving a positive intersection.
Technical Analysis ( 1 Day Timeframe )
Source: WOO/USDT by TradingView
The WOO price after taking support from $0.1000 started trading on a bullish trend gaining more than twice its value back within 6 months. The sellers did make an attempt to change the trend in their favor near $0.3000 by pushing the price by 43% but could not succeed. After reaching the $1.500 price point the buyers pushed the price up taking back the charge.
At present, since taking rejection from the $3.500 the price is gaining the buyer’s support at $0.2500 near the golden line of Fibonacci levels. The next support point for it is 11% below around $0.2000. The price can attain its target of 22% or more above the current price of $0.3500.
The RSI line is currently moving just above the median line; the SMA is providing resistance to it below overbought levels. The current RSI value is 57.99 points and the 14 SMA line is trending above the median line around 63.66 points. The RSI line is indicating it may continue moving upwards if it is successful in breaking above 14 SMA.
The stochastic RSI is trading close to oversold levels. The % D line is at 18.96 points and the %K line is at 18.80 points. The Stochastic line is already giving a positive intersection near the demand zone.
Conclusion
WOO price is presenting a positive stance for the buyers. The price recently made a bullish engulfing candle near the golden level at 0.2500. The oscillators are giving a bullish crossover. The EMA’s are also supporting the current trend.
Technical levels –
Support – $0.2500 and $0.2000
Resistance – $3.500
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.
