Analysis of COWUSDT Chart (1h Timeframe):

Key Observations:

  1. Price Movement:

    • The price recently made a high near $1.04 but is now in a downtrend, sitting around $0.75.

    • The current price is consolidating after a steep decline.

  2. Support and Resistance:

    • Resistance: Around $1.04 (recent high).

    • Support: Around $0.36 (marked low and previous consolidation zone).

    • Volume Analysis:

    • The volume spiked during the upward move towards $1.04, which indicates strong buying interest.

  3. However, the volume decreased during the decline, showing weak bearish momentum for now.

  4. Relative Strength Index (RSI):

    The RSI is trending below 50, suggesting weak momentum but no oversold condition yet.

  5. If RSI approaches 30, it could signal a potential reversal.

Next Move Prediction:

Scenario 1: Bullish Rebound (Higher Probability

  • If the price holds above the current level ($0.75) and volume increases, we could see a rebound.

  • Key levels to watch for breakout:

    • Resistance at $0.85–$0.90 (local highs).

    • If this breaks, the next target is $1.04 (previous high).

Scenario 2: Bearish Continuation

  • If the price fails to hold $0.75 and volume increases on the downside, it could test lower support levels:

    • First support: $0.60.

    • Major support: $0.36 (marked on the chart).

Strategy

  • For Long (Buy Position): Wait for a breakout above $0.85 with strong volume and RSI above 50.

  • For Short (Sell Position): If price closes below $0.75 with increasing volume, target $0.60 and $0.36

  • $COW