The market is still on the lookout for distinct signs of a long-term recovery. Given this, it is critical to pay strategic attention to tokens such as Woo Network (WOO), which present chances for short- and long-term trading in the dynamic crypto environment.
The cryptocurrency market is in a positive mood as the new week begins, following a time of increased volatility in the first half of December. The two most popular cryptocurrencies, Ethereum and Bitcoin, have shown signs of stability during the last 48 hours.
Woo Network Explodes 75% In The Last Week
The WOO token, which is part of the Woo Network liquidity protocol, has been rising recently after fluctuating earlier. According to data from Coingecko, WOO was trading at $0.45 at the time of writing, up over 2% in the previous day and maintaining a strong 75.0% increase over the previous seven days.
Source: Coingecko
A contributing element to the cryptocurrency’s recent price increase was the WooFi exchange, which attracted attention from possible investors after announcing a partnership with Arbitrum.
The cryptocurrency exchange WOO X, which runs on the WOO token, announced this week that it will be partnering with Wintermute to increase liquidity.
With a combined trading volume of about $3.6 trillion, Wintermute is an algorithmic trading company and liquidity provider. Thanks to its partnership with WOO X, it now serves as the primary liquidity provider for the exchange.
WOO market cap currently at $812 million. Chart: TradingView.com
Another market maker, Selini Capital, joined WOO X in order to extend its designated market maker (DMM) program and gain access to over 135 perpetual markets.
When WOO debuted on the open market in late 2020, its value was approximately $0.03. Woo Network surged ahead of the market in early 2021, breaking through the dollar in April and hitting a one-time high of $1.34 on May 9.
The price of WOO token has recovered after suffering a significant drop over the weekend. Over the weekend, it dropped to a low of $0.35, but it rose to a high of $0.42 following that. WOO continues to be higher above the 50-period moving average.
Woo Network Price Prediction
Additionally, it appears to be creating a double-top pattern, with the upper side located at $0.4578. The Relative Strength Index (RSI) is heading toward the 70 overbought level after making an upward trend.
As a result, investors are aiming for the double-top point at $0.4578, which…
Click Here to Read the Full Original Article at NewsBTC…
