- WOO Network increased selling after rejecting at $0.35.
- WOO could fall to $0.20, according to crypto analysts.
- WOO lost as Bitcoin price retreated to around $27,400 on Sunday.
WOO network prices fell by double digits on Sunday as the crypto market continues bearishness among bulls following major declines in Bitcoin, Ethereum and other major cryptocurrencies.
At the time of writing, WOO is trading around $0.24, down more than 10% over the past 24 hours and down around 26% over the past 7 days. Bitcoin, meanwhile, broke below the key support of $27,800 and hovered around $27,400.
What is WOO?
WOO is the native token of WOO Network, a blockchain-based decentralized finance (DeFi) and centralized finance (CeFi) platform. Trading platform users can trade BTC, ETH and other coins and benefit from one of the highest liquidity and lowest cost of trade execution.
Users will have access to zero commission trading on the CEX platform called WOOX. On the other hand, his WOOFi on DEX platform offers cross-chain swaps and one-sided yields. Both platforms use her WOO.
With a circulating supply of 1.7 billion WOO and traded on the world’s leading cryptocurrency exchange Binance, the WOO token saw a significant increase in daily trading volume as the sell-off increased. According to CoinGecko data, as of 4 p.m. ET on Sunday, the combined total surpassed $55 million, with over $19 million in his WOO/USDT pair on Binance.
WOO Price: Analyst Predicts Drop To $0.20
WOO Network price moved from a $0.28 high earlier in the day, with crypto trader and analyst trader SZ share Technical setup of cryptocurrencies.
According to traders, WOO has shown a trendline deviation on the weekly chart. With the deactivation clearly above the trendline, price predictions could see the bears pushing to last week’s lows.
$ Woo – Weekly look and did trendline deviations. Deactivation is evident above the trendline. We expect at least a move to last week’s lows https://t.co/xC7uoOmSG4 pic.twitter.com/NMm76WNVcH
— TraderSZ (@trader1sz) April 23, 2023
The area analysts highlight near $0.20 marks the zone where WOO recently bounced back to highs near $0.35. Rejection from psychological levels and potential weakness at $0.20 could see WOO price drop to his $0.14 level.
