Woo Network price is slowly making a comeback

Woo Network price rallied after its sharp decline over the weekend. WOO is trading at 0.63 USDT, around 35% above Saturday’s low. It has a market cap of over $571 million, making it the 114th largest cryptocurrency in the world.

What is Woo Network?

Woo Network is a fast growing blockchain platform that offers a quality trading platform. The network is known for its fast execution and significantly lower fees than other popular platforms. It offers hundreds of pairs to trade and ample liquidity.

Woo Network recently made headlines by raising over $12 million from Binance, the world’s largest exchange. The company also provides liquidity to more than 40 businesses, including investment banks, wallets and decentralized exchanges. He is also involved in the DeFi industry. In 2021, he launched WOOFI Swap, a DeFi platform built using Binance Smart Chain technology.

In total, the company has raised around $42 million from companies including Crypto.com, Avalanche, and BitTorrent. The WOO token is the native token of the ecosystem. Most of the coins are used to reward network members and burn them.

Woo Network Price Prediction

The four-hour chart shows that the WOO price has been trending down over the past few months. The coin is trading at 0.63 USDT, around 31% above the weekend low. It moved slightly above key resistance at 0.5985 USDT, which is the lowest level since December 21st.

The coin moved slightly below the 25- and 50-day moving averages. His Relative Strength Index (RSI) has increased. Therefore, it is likely that the WOO Network price will continue higher as the bulls target the next key resistance to watch at 0.7400 USDT. on the other hand, a move below support at 0.5200 will invalidate this view.