{"id":610523,"date":"2024-12-16T09:12:51","date_gmt":"2024-12-16T09:12:51","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=610523"},"modified":"2024-12-16T09:12:51","modified_gmt":"2024-12-16T09:12:51","slug":"is-it-too-late-to-buy-cow-cow-protocol-price-surges-47-and-this-might-be-the-next-crypto-to-explode","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/is-it-too-late-to-buy-cow-cow-protocol-price-surges-47-and-this-might-be-the-next-crypto-to-explode","title":{"rendered":"Is It Too Late To Buy COW? CoW Protocol Price Surges 47% And This Might Be The Next Crypto To Explode"},"content":{"rendered":"

The CoW Protocol price surged 47% in the last 24 hours to trade at $0.95 as of 02:24 a.m. EST on trading volume that skyrocketed 607% to $466 million.<\/span><\/p>\n

CoW Protocol Price Indicators Support A Sustained Rally<\/h2>\n

The COW\/USD chart on the 4-hour timeframe reveals an interesting mix of technical signals. A sharp upward surge has propelled <\/span>the price of CoW Protocol<\/span><\/a> into the spotlight, driven by strong market momentum and clear bullish formations.<\/span><\/p>\n

A large rounding bottom pattern can be seen developing from mid-November through early December. This formation is a classic bullish reversal signal that indicates a gradual shift from bearish to bullish sentiment.<\/span><\/p>\n

The pattern completed with a significant breakout above resistance near $0.58, signaling further upside potential, after completing a classic cup and handle pattern, according to data from <\/span>GeckoTerminal<\/span><\/a>.<\/span><\/p>\n

Post-breakout, the CoW price experienced a parabolic move, surging sharply to the current level of $0.95. This kind of rapid price action often indicates extreme buying momentum but also hints at potential volatility ahead.<\/span><\/p>\n

The price of CoW Protocol now trades gracefully above both the 50-day and 200-day Simple Moving Averages (SMAs), an indication of the continued upsurge and a bullish rally ahead.<\/span><\/p>\n

Meanwhile, the Relative Strength Index (RSI) is at 74.39, well above the 70 threshold, indicating the market is in overbought territory, which also means that COW is currently overvalued.<\/span><\/p>\n

The Moving Average Convergence Divergence (MACD) line (0.0978) is above the signal line (0.0671) and continues to rise, which confirms the strong bullish momentum.<\/span><\/p>\n

\"CoW
COWUSD Chart Analysis Source: GeckoTerminal<\/figcaption><\/figure>\n

COW Price Prediction<\/h2>\n

Given the current technical indicators and patterns, the outlook for COW\/USD remains bullish in the short term, but with caution for volatility. If the price breaks and closes above the $1.00 resistance, we could see further upside toward the next possible targets at $1.20 to $1.30.<\/span><\/p>\n

However, given the overbought RSI and parabolic move, a short-term pullback to the $0.63 support is also possible.<\/span><\/p>\n

Meanwhile, investors looking for new opportunities might want to consider a new meme coin ICO called <\/span>Flockerz (FLOCK)<\/span><\/a>. <\/span><\/p>\n

According to 99Bitcoins, a popular crypto channel on YouTube with over 710K subscribers, $FLOCK has the potential to soar 100X after its launch.<\/span><\/p>\n