$COW Coin Analysis by Hour:
Main Technical Indicators:
1. Moving Averages (MA):
MA(7): at 0.9782 (red MA) and is currently above the current price.
MA(25): at 0.8717 (blue) supporting the price from below.
This indicates the beginning of a downward correction after a strong rise.
2. Parabolic SAR (yellow dots):
The dots are now above the candles, reflecting a possible downward or corrective trend.
3. Relative Strength Index (RSI):
A reading of 35.76 means that the price is approaching the oversold area, which may indicate potential rebound opportunities if other signals appear.
4. MACD:
The DIF line (0.0656) and the DEA line (0.0781) are showing a negative crossover.
The green chart bars are continuously declining, reflecting weak buying momentum.
Price Action:
The price rose strongly to 1.0404 but then retreated to 0.9217.
The nearest support level is at 0.8758, if broken, we may see a decline towards 0.69.
In case of a rebound upwards, the main resistance level will be 1.04.
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Conclusion♥♥:
There is clear selling pressure after the strong rise.
If the price continues above 0.87, we may see a rebound.
You should monitor the RSI indicator and the appearance of positive reversal signals (such as reversal candles).
If you are thinking of entering, it is better to wait for confirmations from the market (positive candles or a reversal in indicators).