$COW /USDT Technical Analysis: Potential Reversal Setup with Key Targets
$COW /USDT is showing a recovery attempt after a sharp decline, currently trading near $0.8975. A short-term reversal may be forming. Here’s a technical breakdown with targets:
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Key Levels to Watch:
Entry Zone: $0.88 - $0.90
Targets:
1. $0.93 – Immediate resistance. A breakout above this could signal further upside.
2. $0.98 – Strong resistance aligning with recent consolidation highs.
3. $1.04 – Key psychological level and 24h high. Reclaiming this can open room for extended bullish momentum.
Stop Loss: Below $0.85 (to protect against downside risk).
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Market Insights:
Volume: A spike in volume confirms buyer activity at lower support levels.
RSI: Approaching oversold levels, indicating a possible bounce.
Outlook: Price action near $0.90 shows signs of accumulation. Watch for a breakout above $0.93 for confirmation of the trend reversal.
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Trade Strategy: Ensure risk management by maintaining tight stops and monitoring resistance levels for potential profit-taking opportunities.
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