๐จ๐ฎ $COW /USDT - Bearish Stampede Continues! ๐๐จ
Market Overview
Cow Protocol (COW) is currently facing a bearish trend, with the price plummeting by over 10%. The current price is $0.4041, and the 24-hour trading volume is 13.45M USDT. The MACD indicator is in the sell zone, signaling a potential continuation of the downtrend.
Trade Scenarios
* Bearish Scenario: If the price breaks below the $0.3790 support level, it could continue to fall towards the next support level at $0.3500. The stop-loss for this trade can be placed at $0.4213.
* Bullish Scenario: If the price breaks above the $0.4213 resistance level, it could indicate a potential reversal of the downtrend. However, it's important to monitor the overall market sentiment and technical indicators. The stop-loss for this trade can be placed at $0.3790.
Market Outlook
The short-term outlook for COW is bearish, with the potential for further price declines. Traders should be cautious and exercise risk management strategies, such as using stop-loss orders.