Is It Too Late To Buy COW? CoW Protocol Price Surges 47% And This Might Be The Next Crypto To Explode
Release: 2024/12/16 17:14 Reading: 239
CoW Protocol Price Spikes 47%, Bullish Rally Supported by Technical Indicators
The price of CoW Protocol has surged 47% in the past 24 hours, reaching $0.95 as of 02:24 a.m. EST. This surge was accompanied by a significant increase in trading volume, which skyrocketed by 607% to $466 million.
Technical Analysis Indicates Sustained Price Increase
A review of the COW/USD chart on a 4-hour timeframe reveals a combination of technical signals that support a sustained rally.
- A rounding bottom pattern formed from mid-November to early December, indicating a shift to bullish sentiment.
- The pattern completed with a breakout above resistance near $0.58, signaling further upside potential.
- The CoW price experienced a parabolic move post-breakout, reaching the current level of $0.95.
- The price now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), confirming the uptrend.
- The Relative Strength Index (RSI) is at 74.39, indicating overbought territory.
- The Moving Average Convergence Divergence (MACD) line is above the signal line and continues to rise, confirming bullish momentum.
COW Price Prediction
Given the current technical indicators, the outlook for COW/USD remains bullish in the short term. A break and close above $1.00 could lead to further upside towards $1.20-$1.30.
However, the overbought RSI and parabolic move suggest potential for a short-term pullback to the $0.63 support level.
Flockerz ICO: A Potential Opportunity
Investors seeking new opportunities may consider Flockerz (FLOCK), a new meme coin ICO. According to 99Bitcoins, FLOCK has the potential to surge 100X after its launch.
Flockerz's presale has raised over $6.8 million, showcasing investor interest in its community-driven governance model and vote-to-earn (V2) mechanism. In Flocktopia, token holders participate in decision-making and are rewarded for their votes.
The presale offers FLOCK tokens for $0.0064265 per token, and users can purchase using BNB, ETH, USDT, or bank cards.
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