Technical Analysis and Price Targets 🎯
Current Price: $0.4677 (Up +87.83%)
Over the last 24 hours, COW/USDT has seen a dramatic surge in price, rallying from a low of $0.2490 to its current value of $0.4677, reflecting a strong upward momentum. As we analyze the chart, there are three key targets to keep an eye on, as the market continues to show volatility and potential for further movement. Here's a breakdown of the key levels to watch:
Target 1: $0.4791 - Resistance Level
Reason: This price point represents the recent 24h high and acts as the first major resistance zone for the pair. If bulls can break this level, it could trigger further upside momentum towards higher targets.
Action: Watch for a breakout above this level, which would suggest continued strength in the trend.
Target 2: $0.4907 - Key Resistance
Reason: A slightly higher resistance level that could act as a more challenging hurdle for the price. If the market maintains its bullish trend, a move towards $0.4907 could set the stage for further price exploration towards $0.50.
Action: Confirmation of a breakout above $0.4791, with consistent buying pressure, would lead us to watch for a push toward $0.4907.
Target 3: $0.4062 - Support Zone
Reason: If the price starts to retrace, $0.4062 is a key level of support that could potentially hold the price up and provide an opportunity for bulls to reload before another push higher. A dip to this level could be a healthy consolidation before continuation.
