COW price faces a critical juncture, where to go from here?
Market Analysis
Recently, the COW trend has significantly pulled back from its highs and is currently seeking support within a fluctuating range. Trading sentiment is relatively cautious, but there are still short-term opportunities. As market volatility increases, interest at lower levels is rising.
Support and Resistance Levels
• Support levels: $0.66, $0.62, $0.58
• Resistance levels: $0.71, $0.75, $0.80
Short-Term Trading Strategy
Long Strategy (Seeking rebound opportunities):
• Entry point: $0.67
• Add position point: $0.63
• Stop-loss point: $0.57
• Take profit targets: $0.71, $0.75, $0.80
Short Strategy (Suitable for trend-following operations):
• Entry point: $0.71
• Add position point: $0.75
• Stop-loss point: $0.81
• Take profit targets: $0.67, $0.63, $0.58
My Prediction
Considering the current market trend, COW may continue to test support downwards. It is recommended to focus on short-selling strategies, paying attention to entry opportunities at $0.71, and gradually reducing risk at take profit points.
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