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 following a significant rise.
Market Dynamics: Although selling pressure is still greater 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.
Sixth: Trading Implications:
For Buyers: The current price stability at 0.4009 USDT and the previous slight upward attempt indicate a potential for stability. However, strong resistance above (sell walls) and overall volatility still require caution. It may be wise to wait for a clear breakout of immediate resistance levels or a stronger confirmation of a bullish reversal.
For Sellers: Those who bought at lower prices may be looking to take profits. 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
