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WOO Price Holds Key Support Zone as Bullish RSI Divergence Signals Recovery
By: cryptofrontnews|2025/05/05 03:00:07
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WOO price bounces from an important support zone, creating a resistance-turned-support formation which could propel further bullish activity.Hidden bullish divergence in the RSI indicates inner power, signaling a likelihood of price rebounding accompanied by a breakout towards higher prices.A breakout above $0.074 might drive the move upwards, whereas failure to maintain support at $0.069 may cause a change in momentum.WOO price is holding near a vital support area following a structured pullback, with indicators showing signs of bullish continuation potential.WOO Price Shows Hidden Bullish Divergence on RSIAccording to Alpha Crypto Signal, $WOO is currently attempting to maintain position above a critical support range. The price zone between $0.0695 and $0.0705—previously resistance—is now serving as support. This resistance-turned-support structure suggests a stable base forming on lower time frames.https://twitter.com/alphacryptosign/status/1918937749530333492The 4-hour WOO/USDT chart shows that this area aligns with an ascending trendline from late April, creating a technical confluence. The Relative Strength Index (RSI) is printing hidden bullish divergence (HBD), with higher price lows against lower RSI lows. RSI currently reads 52.47, rebounding from prior oversold levels and hinting at positive momentum.Price gaps seen earlier have now been filled. With support intact, the next move may be toward reclaiming the $0.074 level.WOO Holds Ascending Trendline After Recent CorrectionFollowing a rally that stalled near $0.082, WOO corrected but found renewed support along the ascending trendline. This trendline intersects the support zone, offering a key area for traders to monitor. Holding this zone may open doors to test $0.078–$0.080 resistance.Chart projections point to a possible breakout after brief consolidation. However, a decisive move below $0.069 could disrupt the setup. Momentum remains with buyers as long as structure and divergence hold.The risk-reward balance remains attractive as the setup presents a typical continuation pattern in early formation.Daily Chart Retest Adds Weight to Near-Term OutlookOn the daily timeframe, WOO has broken above a descending trendline that capped price action since January. This breakout was confirmed by successive green candles in late April. A retest between $0.066 and $0.068 is underway.Source: TradingViewThe MACD indicator shows both signal lines moving upward near the zero level. Though the histogram is slowing, it remains positive. The Accumulation/Distribution (A/D) line, still negative at -25.39M, has flattened, suggesting reduced selling pressure.WOO traded at $0.06912 as of writing, down 3.65% in the last 24 hours. Traders now watch if the retest leads to renewed bullish momentum.The post WOO Price Holds Key Support Zone as Bullish RSI Divergence Signals Recovery appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
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