New token Efforce (WOZX) skyrockets 93% to hit $2.88 high

The price of Efforce (WOZX) has jumped from $0.10 to highs of $2.88 in a week, an upside of over 2,800%

Efforce (WOZX), a token recently launched by Apple co-founder Steve Wozniak, has seen its price skyrocket more than 28 times in the past week.

In the past 24 hours, the token traded more than 93% higher, jumping from $1.49 to briefly change hands around $2.88.

A downside is likely given the broader market outlook as Bitcoin and major altcoins struggle with sell-off pressure. However, it is possible bulls could still want to add to the epic breakout registered for WOZX/USD. If so, highs of $4.50 are probable within the next few days.

At the time of writing, the Ethereum-based token is trading around $2.82 and has performed well against Bitcoin and Ethereum too. Its value against BTC and ETH is up by more than 102% and 107% respectively.

WOZX price chart

Pseudonymous trader and crypto enthusiast Pumpcat shared the chart below showing Efforce price action over the past week. As can be seen in the chart, WOZX first traded within an ascending triangle pattern.

The breakout that followed took WOZX/USDT from $1.49 to $2.88, with the upside adding more than $1.38 (92.53%) to the token’s value.

Efforce price even jumped 15% within an hour amid massive buying pressure. Bulls are now likely to target $3.50 and $4.00.

Chart showing WOZX price action. Source: Pumpcat on Twitter

On the downside, mounting sell-off pressure could send WOZX price to the initial support area located around $2.50. Below this area, $2.10 and $1.80 levels offer further cushion.

What is Efforce (WOZX)?

Efforce is an Ethereum-based platform and cryptocurrency founded in 2019. The Malta-based project is designed to securitise energy-saving projects. The WOZX token is the native digital asset on the platform, which users can earn as a reward for participating in various energy projects.

According to data from CoinGecko, the token has a 24-hour trading volume of $43.8 million and a market cap of $61.7 million. The total supply for Efforce (WOZX) is 1,000,000,000, with 22,153,344 of the tokens currently in circulation.

Two major exchanges currently list WOZX for trading: HBTC and Korea-based Bithumb.