$COW From the COW/USDT chart on the 4-hour timeframe, here are some observations and a recommended strategy for the next 24 hours:
Technical Analysis
1. Moving Averages (MA):
The MA(7) is below the current price, but the MA(25) is slightly above, acting as a potential resistance level around 0.4042. A breakout above this level may indicate further upward momentum.
The fact that the price has crossed above the MA(7) suggests a possible short-term upward trend, but confirmation is needed by breaking above the MA(25).
2. Relative Strength Index (RSI):
The RSI is around 60, which leans toward the bullish side but isn’t in overbought territory. This shows buying pressure, with potential for more upside before reaching overbought levels (usually around 70-80).
3. MACD (Moving Average Convergence Divergence):
The MACD histogram is green and above zero, with the MACD line above the signal line, indicating positive momentum. However, the signal isn’t very strong, so it’s essential to watch for any divergence that may signal a potential reversal.
4. Volume:
Volume has shown spikes during recent bullish candles, which could support upward movement