$COW /USDT Technical Analysis
Current Price: $1.1544
Trend: Bullish (up 1.54% in the last 24 hours)
Key Levels:
Support: $1.0935 (24h Low)
Resistance: $1.1880 (24h High)
Indicators:
RSI (Relative Strength Index): Slightly bullish, showing a moderate upward trend but not yet overbought.
MACD (Moving Average Convergence Divergence): Positive momentum, indicating the potential for further upside.
Momentum:
Volume: Healthy 24h volume (62.51M USDT), suggesting strong market interest and liquidity.
Price Action: Positive momentum observed in the last 24 hours, with a steady increase from the support level.
Trade Signal:
Buy Signal: Consider entering a long position around $1.1544 with confirmation from price bouncing off support.
Target Levels (with Trade Momentum):
1. First Target: $1.1806 (Resistance level from the order book depth)
Likely a short-term take-profit level as it's the immediate resistance.
2. Second Target: $1.1880 (24h High)
The recent high is a key resistance zone and may see some selling pressure here.
3. Third Target: $1.20
A psychological resistance level, where further breakout potential exists if the trend continues.
Trade Momentum:
Bullish: The price has shown steady upward movement, but be cautious near the resistance levels. A break above $1.1880 could open further upside towards $1.20. Watch for any signs of a reversal, especially if RSI becomes overbought.
Consider using stop-loss around $1.10 to manage risk, depending on your risk tolerance.
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