Here's a quick technical analysis and trade signal for $COW

/USDT:🔥💯

Technical Analysis:

Current Price: 1.0669 USDT

Trend: Bearish momentum, given the -8.14% drop in the past 24 hours.

Support Levels:

Primary Support: 1.0325 USDT (24h low)

Secondary Support: 1.01 USDT (Psychological level)

Resistance Levels:

Primary Resistance: 1.1732 USDT (24h high)

Secondary Resistance: 1.15 USDT

Indicators:

RSI (Relative Strength Index): A possible oversold condition, indicating potential for a reversal or sideways consolidation. Expect a possible short-term rally if it starts showing bullish divergence.

MACD (Moving Average Convergence Divergence): The histogram may indicate bearish momentum, but the potential for a crossover may be considered for entry if momentum shifts.

Trade Signal:

Short-Term Trade Signal:

Consider entering a long position if price stabilizes above 1.05 USDT, targeting the following levels. Risk management is essential due to overall bearish momentum.

Target Levels (Take Profits) 🎯:

1. First Target: 1.10 USDT (Minor Resistance)

2. Second Target: 1.13 USDT (Mid-range Resistance)

3. Third Target: 1.17 USDT (Previous 24h High)

Stop-Loss:

Set a stop-loss just below 1.03 USDT, to protect against deeper bearish moves.

Trade Momentum:

Current bearish momentum suggests wait for a confirmation (support bounce or RSI reversal) before entering long positions.

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