WOO/USDT - 1h 1st Analysis Cup & Handle

#woo Following The Cup &Handle Pattern An clearly retest the handle support and breakout it looks bullish as per effective analysis

WOO/USDT - 4H 2nd Analysis Inverse Head & Shoulder

Also, Woo Following the inverse head & shoulder pattern and clearly breakout the upper tren-line which indicates the conform bullish momentum

don't miss this trade

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The WOO network token, WOO increased by 6.15% to $0.2984, making it a top mover on April 27, with a total trading volume in the last 24 hours of $77,236,686.

The network, which includes a system of centralized finance (CeFi) and decentralized finance (DeFi), has since gained popularity with recent news highlighting its outperformance of CAKE and UNI earlier this year.

A low cost alternative

WOO network is quickly gaining recognition as a one-of-a-kind project within the cryptocurrency space. Its system of centralized finance (CeFi) and decentralized finance (DeFi) services is designed to provide deeper liquidity to cryptocurrency market participants.

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The project’s focus on blockchain technology is a significant aspect that the company markets as a distinguishing factor it from its peers in the space.

By utilizing this technology, the network’s infrastructure can provide traders, exchanges, institutions and DeFi platforms with greater market liquidity and faster trading execution at zero or low cost.

WOO network has since shown steady growth over the last three month periods, with recent price fluctuations pushing the value above $0.32.

WOO moves to zkSync Era

Around the same time of the latest price rally, WOO network has shared an announcement that their DeFi traders can no gain access to WOOfi’s best pricing on ethereum scaling solution zkSync Era.

zkSync Era uses zero-knowledge proofs to verify transactions without revealing data, thereby enhancing the speed and cost-effectiveness of transactions. The layer 2 protocol bundles transactions together, scaling ethereum and providing users with a similar experience as using ethereum but with allegedly faster speeds and lower fees.

In their announcement, WOOfi shares plans to leverage its capital-efficient sPMM v2 liquidity to offer its price execution to zkSync Era immediately. Although data is not conclusive as to whether this announcement has impacted the most recent price rally, WOO, has been in a number of news reports as a top mover in the last few weeks.

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Key takeaways

WOO is the best-performing cryptocurrency amongst the top 100 by market cap today.

The rally comes as Woo Network listed new perpetual products and revamped its community ambassador programme.

WOO could be eyeing the $0.3500 psychological level following its recent rally.

WOO price stands at $0.2893, up by more than 12% today

WOO, the native token of the Woo Network, is the best performer amongst the top 100 cryptocurrencies by market cap today. The token is up by more than 12% in the last 24 hours.

At press time, the price of WOO stands at $0.2883 and could rally higher in the near term.

The rally comes as the WOO Network listed the SUI perpetual token with zero fees on its platform. This latest cryptocurrency news means that traders on WOO can start trading SUI futures.

🌊 Ride the #SUInami on $SUI – PERP with ZERO fees. @SuiNetwork the latest L1 platform token built with Move, has arrived on WOO X.

▶️ Start trading at https://t.co/lM1upFinM5 pic.twitter.com/iD6VKdLIyC

— WOO X (@_WOO_X) May 4, 2023

In addition to that, the Woo Network recently revamped WOO Force, its community ambassador programme. The revamp is designed to extend the reach of WOO’s growth initiatives.

May the force forever be with $WOO ⚛️

🔥 Recognizing the surging social activity around the $WOO ecosystem, we've recently revamped WOO Force – our community ambassador programme.

▶️ Learn about these changes and join the force today:https://t.co/lXTgCTkHop pic.twitter.com/dNSRkI6YiG

— WOO X (@_WOO_X) May 4, 2023

These latest developments could be the major catalysts behind WOO’s ongoing rally.

Could WOO reach the $0.3500 psychological level soon?

WOO has been performing well in recent days and could be on its way to reaching new highs. At press time, WOO is trading above the $0.28 level.

If the rally continues, WOO could reach the $0.3500 psychological level for the first time since April 19.

The fundamental conditions of the broader cryptocurrency market could also help WOO rally toward that price.

Despite its recent positive performance, WOO remains 88% down from the all-time high of $2.4807 it achieved in November 2021.

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