Do you see that specific candle structure or am I just imagining things?
$COW is playing a very interesting game right now. We had a solid rally from 0.1947 and hit a local top at 0.2255. Since then, it’s been a bit of a choppy ride.
The price is sitting at 0.2156, and we just saw a pretty big rejection candle from the 0.2200 area. It looks like the bulls are trying to keep it above the 0.2130 zone, which is acting as a temporary floor. If we lose that level, I expect a quick trip back down to 0.2060 to retest previous support.
Volume is sitting at 13M, which isn't huge, so this could easily go sideways for a few more hours. I’m waiting for a clean break of 0.2200 with some real volume before I trust any upside move. Right now, it feels like it's just baiting both sides.
COWUSDT
Perp
0.2189
+0.50%