WOO Market Overview: Bullish Breakout Amid Rising Volatility

• WOOUSDT formed a bullish reversal pattern after a 15-minute consolidation at 0.0697.
• Price surged 2.5% on strong volume spikes during the 06:30–09:30 ET session.
• RSI moved out of oversold territory, indicating potential momentum shift.
• Bollinger Bands expanded, signaling increased volatility and trend potential.
• Fibonacci 61.8% retracement level at 0.0736 appears to be a key resistance.

WOOUSDT opened at $0.0697 on July 30 at 12:00 ET, reached a high of $0.074, touched a low of $0.0697, and closed at $0.0713 on July 31 at 12:00 ET. Total volume was 3,563,522.9 with a turnover of $252,375.

Structure & Formations

The 15-minute chart shows a key consolidation phase at 0.0697 before a sharp upward breakout. A bullish engulfing pattern formed around 06:30 ET, followed by a strong rally that extended past the 0.071–0.073 range. A key support level at 0.0711 and resistance at 0.0736 (Fibonacci 61.8%) appear to be critical for the next 24 hours.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed to the upside during the breakout phase, confirming bullish momentum. The 50-period MA is currently at 0.0715, aligning with the 38.2% Fibonacci level. On the daily chart, the 50-period MA is at 0.0722, suggesting a potential retest or continuation of the bullish trend.

MACD & RSI

The MACD line crossed above the signal line around 06:30 ET, confirming a shift in momentum. RSI moved from oversold territory (~28) to mid-range (~52), indicating a potential continuation of the upward move. A divergence is not currently observed, suggesting price and momentum are aligned.

Bollinger Bands

Bollinger Bands expanded significantly during the breakout phase, with price moving from near the lower band to above the midline. The upper band currently sits at 0.0745, and the lower band at 0.0702, suggesting a wide trading range and increased volatility.

Volume & Turnover

Volume spiked sharply during the 06:30–09:30 ET session, with the 06:30 candle alone showing 216,263.4 volume. Turnover increased in line with volume, confirming the breakout. A divergence between price and turnover is not evident, suggesting the move is backed by strong buying pressure.

Fibonacci Retracements

Fibonacci retracement levels applied to the recent 15-minute swing (0.0697–0.0737) show key levels at 0.0712 (38.2%) and 0.0736 (61.8%). The 0.0736 level is currently acting as a resistance. On the daily chart, the 61.8% retracement of the larger move (0.0697–0.074) is at 0.073, which may see heavy interest.

WOO appears to be entering a phase of increased bullish momentum, supported by volume and technical alignment. A break above 0.0736 could trigger further gains, but traders should remain cautious of potential pullbacks near 0.0711. As always, volatility remains a key risk in the crypto market.