Summary and Conclusion
The COW/USDT pair continues to show strong performance over the last 24 hours despite the recent correction from its peak. The price has stabilized at 0.4009 USDT.
Overall Trend: The asset remains in a high volatility phase after a significant rise.
Market Dynamics: Although selling pressure remains higher than buying pressure (69.75% sell vs. 30.25% buy), the gap has not changed compared to the second screenshot. This indicates that the market is in a temporary balance at this price, with buyers attempting to absorb the selling pressure.
Technical Signals: The MACD remains bullish, and its values are stable. The price is within the Bollinger Bands, confirming the continuation of volatility.
Trading Implications:
For Buyers: The current price stability at 0.4009 USDT and the previous slight upward attempt suggest the possibility of stabilization. However, strong resistance above (sell walls) and overall volatility still require caution. It may be wise to wait for a clear breakout above immediate resistance levels or stronger confirmation of a bullish reversal.
For Sellers: Those who bought at lower prices may be looking to take profits. Existing sell orders above the current price indicate resistance levels where further selling may occur.
Management
In summary, COW/USDT is currently in a state of balance. The initial strong rise is met with profit-taking, but there is some underlying buying interest preventing a sharp collapse
