- WOO’s breakout from a descending wedge signals a bullish reversal, with traders eyeing key resistance at $0.15 and $0.18.
- An inverse head and shoulders pattern hints at a potential rally, but holding above $0.1190 support is crucial for further upside.
- If bullish momentum sustains, WOO could surge toward $0.23, with a projected price movement of 86.84% backing the trend.
Analyst world of charts shows the WOO/USDT trading pair on Binance with promising signs of a bullish reversal. A breakout from a descending wedge pattern has been confirmed, signaling a potential shift in momentum. The price currently hovers around $0.1220, reflecting a 4.98% decline. However, traders are watching the trendline retest, which could determine the sustainability of this upward move.
Descending Wedge Breakout and Potential Gains
Since December 2024, WOO has experienced a downtrend with consecutive lower highs and lower lows. The price bottomed out in early February 2025 before stabilizing. Recently, it broke above the upper trendline, suggesting a transition from a bearish phase to a bullish trend.
Source: World Of Charts
An estimated price move of 86.84% would mean a possible increase of $0.1104. If this is the case, WOO can go up to $0.23. Holding above the break point is critical in maintaining bullish momentum. Short-term resistance levels at $0.15 and $0.18 can serve as stepping stones to the target price.
Inverse Head and Shoulders
Additionally, another technical pattern indicated by analyst CryptochainX strengthens the bullish case for WOO. The inverse head and shoulders pattern has emerged, signaling a bullish reversal. If confirmed, this pattern suggests a potential rally toward $1. The price is currently at $0.1197, experiencing a 6.78% decline, with strong support at $0.1190.
Source: CryptoChainX
Previous price action saw WOO reaching a peak before retracing. The decline led to a break below key support levels, testing lower zones. However, buyers attempted a recovery, facing resistance near $0.1250. Holding above the green support level is vital for further upside movement. Failure to reclaim it may result in further declines.
