WOO has a strong bullish bias from a technical perspective.
The lower timeframe consolidation zone could be an area of interest for traders.
Woo Network [WOO] gained close to 42% on 18th and 19th December alone. The token has been on a strong uptrend in December and the bulls could continue to push prices higher after a brief pullback.
AMBCrypto’s technical analysis of WOO Coin showed that further gains were possible. Yet, some on-chain metrics showed that selling pressure could intensify in the coming days.
The consolidation at $36 is expected to act as support
Source: WOO/USDT on TradingView
On 15th December, WOO reached $0.3925 and retreated to find support at $0.351. This dip demarcated the $0.35-$0.37 area as a lower timeframe consolidation zone.
A WOO revisit to this area would likely yield a bullish reaction from the price.
The Fibonacci retracement levels plotted showed the 50% level was at $0.3513. It provided additional strength to this level as a support. Meanwhile, the
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