The chart for $COW /USDT shows a strong downtrend, currently trading at $0.9749 (-9.85%). Below is a concise analysis and key insights:
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📊 Market Overview
1. Immediate Resistance: $1.0334, a level that must be broken for any potential reversal.
2. Support Zone: $0.9660 has acted as a critical support; a breach here may lead to further drops toward $0.95.
3. MACD Indicator: Signals bearish momentum, with the MACD line below the signal line, though histogram bars show signs of flattening—hinting at potential consolidation.
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🚨 Trading Strategies
For Short Positions: If $0.9660 support breaks, the next target could be $0.95. Monitor volume for confirmation.
For Long Positions: Wait for a confirmed breakout above $1.03 with strong volume to signal bullish momentum.
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💡 Key Observation
The downward pressure remains dominant, but $0.9660 serves as a critical level for potential price stabilization. Cautious trading is recommended as bearish sentiment lingers.
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